Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | NOVARTIS AG |
Entity Central Index Key | 0001114448 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 2,256,822,048 |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Interactive Data Current | Yes |
ICFR Auditor Attestation Flag | true |
Consolidated income statements
Consolidated income statements - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Net sales to third parties from continuing operations | $ 48,659 | $ 47,445 | $ 44,751 |
Sales to discontinued segment | 53 | 82 | |
Net sales from continuing operations | 48,659 | 47,498 | 44,833 |
Other revenues | 1,239 | 1,179 | 1,266 |
Cost of goods sold | (15,121) | (14,425) | (14,510) |
Gross profit from continuing operations | 34,777 | 34,252 | 31,589 |
Selling, general and administration | (14,197) | (14,369) | (13,717) |
Research and development | (8,980) | (9,402) | (8,489) |
Other income | 1,742 | 2,031 | 1,629 |
Other expense | (3,190) | (3,426) | (2,609) |
Operating income from continuing operations | 10,152 | 9,086 | 8,403 |
Income from associated companies | 673 | 659 | 6,438 |
Interest expense | (869) | (850) | (932) |
Other financial income and expense | (78) | 45 | 186 |
Income before taxes from continuing operations | 9,878 | 8,940 | 14,095 |
Taxes | (1,807) | (1,793) | (1,295) |
Net income from continuing operations | 8,071 | 7,147 | 12,800 |
Net income/loss from discontinued operations before gain on distribution | (101) | (186) | |
Gain on distribution of Alcon Inc. to Novartis AG shareholders | 4,691 | ||
Net income/loss from discontinued operations | 4,590 | (186) | |
Net income | 8,071 | 11,737 | 12,614 |
Attributable to | |||
Shareholders of Novartis AG | 8,072 | 11,732 | 12,611 |
Non-controlling interests | $ (1) | $ 5 | $ 3 |
Basic earnings per share [abstract] | |||
Basic earnings per share, Continuing operations | $ 3.55 | $ 3.12 | $ 5.52 |
Basic earnings per share, Discontinued operations | 2 | (0.08) | |
Basic earnings per share | 3.55 | 5.12 | 5.44 |
Diluted earnings per share [abstract] | |||
Diluted earnings per share, Continuing operations | 3.52 | 3.08 | 5.46 |
Diluted earnings per share, Discontinued operations | 1.98 | (0.08) | |
Diluted earnings per share | $ 3.52 | $ 5.06 | $ 5.38 |
Consolidated statements of comp
Consolidated statements of comprehensive income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Net income | $ 8,071 | $ 11,737 | $ 12,614 |
Other comprehensive income to be eventually recycled into the consolidated income statement | |||
Fair value adjustments on debt securities, net of taxes | 1 | ||
Fair value adjustments on deferred cash flow hedges, net of taxes | 1 | 12 | |
Total fair value adjustments on financial instruments, net of taxes | 2 | 12 | |
Associated companies' movements in comprehensive income | (56) | (94) | (482) |
Net investment hedge | (201) | 44 | 95 |
Currency translation effects | 3,194 | 352 | 315 |
Total of items to eventually recycle | 2,937 | 304 | (60) |
Other comprehensive income never to be recycled into the consolidated income statement | |||
Actuarial gains/losses from defined benefit plans, net of taxes | 143 | (467) | (359) |
Fair value adjustments on equity securities, net of taxes | 250 | (47) | 13 |
Total of items never to be recycled | 393 | (514) | (346) |
Total comprehensive income | 11,401 | 11,527 | 12,208 |
Attributable to | |||
Shareholders of Novartis AG | 11,403 | 11,525 | 12,210 |
Comprehensive income, attributable to non-controlling interests | (2) | 2 | (2) |
Continuing operations | |||
Attributable to | |||
Shareholders of Novartis AG | $ 11,403 | 6,948 | 12,417 |
Discontinued operations | |||
Attributable to | |||
Shareholders of Novartis AG | $ 4,577 | $ (207) |
Consolidated balance sheets
Consolidated balance sheets - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Non-current assets [abstract] | ||
Property, plant and equipment | $ 12,263 | $ 12,069 |
Right-of-use assets | 1,676 | 1,677 |
Goodwill | 29,999 | 26,524 |
Intangible assets other than goodwill | 36,809 | 28,787 |
Investments in associated companies | 9,632 | 8,644 |
Deferred tax assets | 8,214 | 7,909 |
Financial assets | 2,901 | 2,518 |
Other non-current assets | 892 | 738 |
Total non-current assets | 102,386 | 88,866 |
Current assets [abstract] | ||
Inventories | 7,131 | 5,982 |
Current trade receivables | 8,217 | 8,301 |
Income tax receivable | 239 | 254 |
Marketable securities, commodities, time deposits and derivative financial instruments | 1,905 | 334 |
Cash and cash equivalents | 9,658 | 11,112 |
Other current assets | 2,523 | 2,680 |
Total current assets without disposal group | 29,673 | 28,663 |
Assets of disposal group held for sale | 841 | |
Total current assets | 29,673 | 29,504 |
Total assets | 132,059 | 118,370 |
Equity [abstract] | ||
Share capital | 913 | 936 |
Treasury shares | (53) | (80) |
Reserves | 55,738 | 54,618 |
Equity attributable to Novartis AG shareholders | 56,598 | 55,474 |
Non-controlling interests | 68 | 77 |
Total equity | 56,666 | 55,551 |
Non-current liabilities [abstract] | ||
Financial debts | 26,259 | 20,353 |
Lease liabilities | 1,719 | 1,703 |
Deferred tax liabilities | 7,422 | 5,867 |
Provisions and other non-current liabilities | 6,934 | 6,632 |
Total non-current liabilities | 42,334 | 34,555 |
Current liabilities [abstract] | ||
Trade payables | 5,403 | 5,424 |
Financial debts and derivative financial instruments | 9,785 | 7,031 |
Lease liabilities | 286 | 246 |
Current income tax liabilities | 2,458 | 2,194 |
Provisions and other current liabilities | 15,127 | 13,338 |
Total current liabilities without disposal group | 33,059 | 28,233 |
Liabilities of disposal group held for sale | 31 | |
Total current liabilities | 33,059 | 28,264 |
Total liabilities | 75,393 | 62,819 |
Total equity and liabilities | $ 132,059 | $ 118,370 |
Consolidated statements of chan
Consolidated statements of changes in equity - USD ($) $ in Millions | Total | Equity attributable to owners of parent [member] | Share capital | Treasury shares | Retained earnings | Total value adjustments | Non-controlling interests [member] |
Equity | Previously stated [member] | $ 74,227 | $ 74,168 | $ 969 | $ (100) | $ 77,639 | $ (4,340) | $ 59 |
Equity | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | 60 | 60 | 237 | (177) | |||
Equity | Restated Value Adjustments [member] | 74,287 | 74,228 | 969 | (100) | 77,876 | (4,517) | 59 |
Equity | Previously stated [member] | 74,227 | 74,168 | 969 | (100) | 77,639 | (4,340) | 59 |
Equity | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | 3 | 3 | 3 | (177) | |||
Equity | Restated Value Adjustments [member] | 74,287 | 74,228 | 944 | (69) | 77,876 | (4,452) | 78 |
Equity | 78,692 | 78,614 | 944 | (69) | 82,191 | (4,452) | 78 |
Equity at beginning of period (Previously stated [member]) at Dec. 31, 2017 | 74,227 | 74,168 | 969 | (100) | 77,639 | (4,340) | 59 |
Equity at beginning of period (Increase (decrease) due to changes in accounting policy required by IFRSs [member]) at Dec. 31, 2017 | 60 | 60 | 237 | (177) | |||
Equity at beginning of period (Restated Value Adjustments [member]) at Dec. 31, 2017 | 74,287 | 74,228 | 969 | (100) | 77,876 | (4,517) | 59 |
Net income | 12,614 | 12,611 | 12,611 | 3 | |||
Other comprehensive income | (406) | (401) | (482) | 81 | (5) | ||
Total comprehensive income | 12,208 | 12,210 | 12,129 | 81 | (2) | ||
Dividends | (6,966) | (6,966) | (6,966) | ||||
Purchase of treasury shares | (1,973) | (1,973) | (13) | (1,960) | |||
Reduction of share capital | (25) | 34 | (9) | ||||
Exercise of options and employee transactions, equity impact | 434 | 434 | 4 | 430 | |||
Other share sales | 263 | 263 | 2 | 261 | |||
Equity-based compensation | 756 | 756 | 4 | 752 | |||
(Increase)/decrease of treasury share repurchase obligation under a share buyback trading plan | (284) | (284) | (284) | ||||
Transaction costs recorded in equity | (79) | (79) | (79) | ||||
Fair value adjustments on equity securities sold, reclassified to retained earnings | 16 | (16) | |||||
Changes in non-controlling interests | (1) | (1) | |||||
Impact of change in ownership of consolidated entities | 9 | (13) | (13) | 22 | |||
Other movements | 38 | 38 | 38 | ||||
Total of other equity movements | (7,803) | (7,824) | (25) | 31 | (7,814) | (16) | 21 |
Equity at end of period (Increase (decrease) due to changes in accounting policy required by IFRSs [member]) at Dec. 31, 2018 | 3 | 3 | 3 | ||||
Equity at end of period (Restated Value Adjustments [member]) at Dec. 31, 2018 | 78,695 | 78,617 | 944 | (69) | 82,194 | (4,452) | 78 |
Equity at end of period at Dec. 31, 2018 | 78,692 | 78,614 | 944 | (69) | 82,191 | (4,452) | 78 |
Equity | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | 3 | 3 | 3 | ||||
Equity | Restated Value Adjustments [member] | 78,695 | 78,617 | 944 | (69) | 82,194 | (4,452) | 78 |
Equity | 78,692 | 78,614 | 944 | (69) | 82,191 | (4,452) | 78 |
Equity | Increase (decrease) due to changes in accounting policy required by IFRSs [member] | 3 | 3 | 3 | ||||
Equity | Restated Value Adjustments [member] | 78,695 | 78,617 | 944 | (69) | 82,194 | (4,452) | 78 |
Equity | 78,692 | 78,614 | 944 | (80) | 59,275 | (4,452) | 77 |
Net income | 11,737 | 11,732 | 11,732 | 5 | |||
Other comprehensive income | (210) | (207) | (94) | (113) | (3) | ||
Total comprehensive income | 11,527 | 11,525 | 11,638 | (113) | 2 | ||
Dividends | (6,645) | (6,645) | (6,645) | ||||
Dividend in kind | (23,434) | (23,434) | (23,434) | ||||
Purchase of treasury shares | (5,511) | (5,511) | (31) | (5,480) | |||
Reduction of share capital | (8) | 12 | (4) | ||||
Exercise of options and employee transactions, equity impact | 210 | 210 | 3 | 207 | |||
Equity-based compensation | 833 | 833 | 5 | 828 | |||
Shares delivered to divested business employees, equity impact | 18 | 18 | 18 | ||||
Taxes on treasury shares | (189) | (189) | (189) | ||||
(Increase)/decrease of treasury share repurchase obligation under a share buyback trading plan | 284 | 284 | 284 | ||||
Transaction costs recorded in equity | (253) | (253) | (253) | ||||
Fair value adjustments on equity securities sold, reclassified to retained earnings | 95 | (95) | |||||
Changes in non-controlling interests | (1) | (1) | |||||
Fair value adjustments related to divestments | (3) | 3 | |||||
Impact of change in ownership of consolidated entities | (5) | (3) | (3) | (2) | |||
Other movements | 22 | 22 | 22 | ||||
Total of other equity movements | (34,671) | (34,668) | (8) | (11) | (34,557) | (92) | (3) |
Equity at end of period at Dec. 31, 2019 | 55,551 | 55,474 | 936 | (80) | 59,275 | (4,657) | 77 |
Equity | 55,551 | 55,474 | 936 | (80) | 59,275 | (4,657) | 77 |
Equity | 55,551 | 55,474 | 913 | (80) | 59,275 | (4,657) | 68 |
Net income | 8,071 | 8,072 | 8,072 | (1) | |||
Other comprehensive income | 3,330 | 3,331 | (56) | 3,387 | (1) | ||
Total comprehensive income | 11,401 | 11,403 | 8,016 | 3,387 | (2) | ||
Dividends | (6,987) | (6,987) | (6,987) | ||||
Purchase of treasury shares | (3,056) | (3,056) | (18) | (3,038) | |||
Reduction of share capital | (23) | 31 | (8) | ||||
Exercise of options and employee transactions, equity impact | 806 | 806 | 8 | 798 | |||
Repurchase of options | (89) | (89) | (89) | ||||
Equity-based compensation | 730 | 730 | 6 | 724 | |||
Shares delivered to divested business employees, equity impact | 30 | 30 | 0 | 30 | |||
Taxes on treasury shares | 32 | 32 | 32 | ||||
(Increase)/decrease of treasury share repurchase obligation under a share buyback trading plan | (1,769) | (1,769) | (1,769) | ||||
Fair value adjustments on equity securities sold, reclassified to retained earnings | 150 | (150) | |||||
Fair value adjustments related to divestments | (2) | 2 | |||||
Impact of change in ownership of consolidated entities | (1) | 6 | 7 | (1) | (7) | ||
Other movements | 18 | 18 | 18 | ||||
Total of other equity movements | (10,286) | (10,279) | (23) | 27 | (10,134) | (149) | (7) |
Equity at end of period at Dec. 31, 2020 | 56,666 | 56,598 | 913 | (53) | 57,157 | (1,419) | 68 |
Equity | $ 56,666 | $ 56,598 | $ 913 | $ (53) | $ 57,157 | $ (1,419) | $ 68 |
Consolidated cash flow statemen
Consolidated cash flow statements - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Net income from continuing operations | $ 8,071 | $ 7,147 | $ 12,800 |
Reversal of non-cash items and other adjustments | 9,881 | 9,122 | 1,486 |
Dividends received from associated companies and others | 490 | 463 | 719 |
Interest received | 47 | 214 | 241 |
Interest paid | (703) | (793) | (816) |
Other financial receipts | 464 | 28 | 218 |
Other financial payments | (39) | (33) | (31) |
Taxes paid | (1,833) | (1,876) | (1,506) |
Net cash flows from operating activities from continuing operations before working capital and provision changes | 16,378 | 14,272 | 13,111 |
Payments out of provisions and other net cash movements in non-current liabilities | (2,437) | (924) | (638) |
Change in net current assets and other operating cash flow items | (291) | 199 | 576 |
Net cash flows from operating activities from continuing operations | 13,650 | 13,547 | 13,049 |
Net cash flows from operating activities from discontinued operations | 78 | 1,223 | |
Total net cash flows from operating activities | 13,650 | 13,625 | 14,272 |
Purchases of property, plant and equipment | (1,275) | (1,379) | (1,254) |
Proceeds from sale of property, plant and equipment | 88 | 857 | 102 |
Purchases of intangible assets | (1,310) | (878) | (1,394) |
Proceeds from sale of intangible assets | 380 | 973 | 823 |
Purchases of financial assets | (230) | (302) | (205) |
Proceeds from sale of financial assets | 723 | 1,152 | 165 |
Purchases of other non-current assets | (61) | (60) | (39) |
Proceeds from sale of other non-current assets | 2 | 3 | 9 |
Acquisitions and divestments of interests in associated companies, net | (7) | (6) | 12,854 |
Acquisitions and divestments of businesses, net | (9,957) | (3,760) | (13,683) |
Purchases of marketable securities and commodities | (1,900) | (228) | (2,440) |
Proceeds from sale of marketable securities and commodities | 492 | 2,561 | 472 |
Net cash flows used in investing activities from continuing operations | (13,055) | (1,067) | (4,590) |
Net cash flows used in investing activities from discontinued operations | (127) | (1,159) | (1,001) |
Total net cash flows used in investing activities | (13,182) | (2,226) | (5,591) |
Dividends paid to shareholders of Novartis AG | (6,987) | (6,645) | (6,966) |
Acquisitions of treasury shares | (2,842) | (5,533) | (2,036) |
Proceeds from exercised options and other treasury share transactions, net | 748 | 201 | 700 |
Increase in non-current financial debts | 7,126 | 93 | 2,856 |
Repayments of non-current financial debts | (2,003) | (3,195) | (366) |
Change in current financial debts | 2,261 | (1,582) | 1,687 |
Payments of lease liabilities, net | (312) | (273) | |
Impact of change in ownership of consolidated entities | (2) | (6) | (19) |
Other financing cash flows, net | (147) | 56 | 67 |
Net cash flows used in financing activities from continuing operations | (2,158) | (16,884) | (4,077) |
Net cash flows used in/from financing activities from discontinued operations | (50) | 3,257 | (167) |
Total net cash flows used in financing activities | (2,208) | (13,627) | (4,244) |
Net change in cash and cash equivalents before effect of exchange rate changes | (1,740) | (2,228) | 4,437 |
Effect of exchange rate changes on cash and cash equivalents | 286 | 69 | (26) |
Total net change in cash and cash equivalents | (1,454) | (2,159) | 4,411 |
Cash and cash equivalents at beginning of period | 11,112 | 13,271 | 8,860 |
Cash and cash equivalents at end of period | $ 9,658 | $ 11,112 | $ 13,271 |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2020 | |
Statement [line items] | |
Significant accounting policies | 1. Significant accounting policies The Novartis Group (Novartis or Group) is a multinational group of companies specializing in the research, development, manufacturing and marketing of a broad range of innovative pharmaceuticals and cost-saving generic medicines. The Group is headquartered in Basel, Switzerland. The consolidated financial statements of the Group are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). They are prepared in accordance with the historical cost convention, except for items that are required to be accounted for at fair value. The Group’s financial year-end is December 31, which is also the annual closing date of the individual entities’ financial statements incorporated into the Group’s consolidated financial statements. The preparation of financial statements requires management to make certain estimates and assumptions, either at the balance sheet date or during the year, which affect the reported amounts of revenues, expenses, assets, liabilities and contingent amounts. Estimates are based on historical experience and other assumptions that are considered reasonable under the given circumstances and are regularly monitored. Actual outcomes and results could differ from those estimates and assumptions. Revisions to estimates are recognized in the period in which the estimate is revised. Listed below are accounting policies of significance to Novartis or, in cases where IFRS provides alternatives, the option adopted by Novartis. Scope of consolidation The consolidated financial statements include all entities, including structured entities, over which Novartis AG, Basel, Switzerland, directly or indirectly has control (generally as a result of owning more than 50% of the entity’s voting interest). Consolidated entities are also referred to as “subsidiaries.” In cases where Novartis does not fully own a subsidiary, it has elected to value any remaining outstanding non-controlling interest at the time of acquiring control of the subsidiary at its proportionate share of the fair value of the net identified assets. The contribution of a business to an associate or joint venture is accounted for by applying the option under IFRS that permits the accounting for the retained interest of the business contributed at its net book value at the time of the contribution. Investments in associated companies (generally defined as investments in entities in which Novartis holds between 20% and 50% of voting shares or over which it otherwise has significant influence) and joint ventures are accounted for using the equity method, except for selected venture fund investments for which the Group has elected to apply the method of fair value through the consolidated income statement. Foreign currencies The consolidated financial statements of Novartis are presented in US dollars (USD). The functional currency of subsidiaries is generally the local currency of the respective entity. The functional currency used for the reporting of certain Swiss and foreign finance entities is USD instead of their respective local currencies. This reflects the fact that the cash flows and transactions of these entities are primarily denominated in these currencies. For subsidiaries not operating in hyperinflationary economies, the subsidiary’s results, financial position and cash flows that do not have USD as their functional currency are translated into USD using the following exchange rates: • Income, expense and cash flows using for each month the average exchange rate, with the US dollar values for each month being aggregated during the year • Balance sheets using year-end exchange rates • Resulting exchange rate differences are recognized in other comprehensive income For subsidiaries operating in hyperinflationary economies, the impact of the restatement of the non-monetary assets and liabilities with the general price index at the beginning of the period is recorded in retained earnings in equity. The subsequent gains or losses resulting from the restatement of non-monetary assets are recorded in “Other financial income and expense” in the consolidated income statement. Non-current assets held for sale or held for distribution to owners Non-current assets are accounted for as assets held for sale or related to discontinued operations when their carrying amount is to be recovered principally through a sale transaction or distribution to owners and a sale or distribution to owners is considered highly probable. They are stated at the lower of carrying amount and fair value less costs to sell with any resulting impairment recognized. Assets related to discontinued operations and assets of disposal group held for sale are not depreciated or amortized. The prior year consolidated balance sheet is not restated. If in a subsequent period, the criteria for classification as held for sale are no longer met, the recoverable amount of assets and liabilities are reclassified out of assets held for sale into the respective balance sheet lines, prior year consolidated balance sheet is not restated. The cumulative amount of depreciation and amortization not recorded since the date of their classification to assets held for sale, and any required adjustments to the recoverable amounts of assets are recognized in the consolidated income statement. Distribution of Alcon Inc. to Novartis AG shareholders During the first quarter of 2019, at the Annual General Meeting (AGM) of Novartis AG shareholders, held on February 28, 2019, the Novartis AG shareholders approved a special distribution by way of a dividend in kind to effect the spin-off of Alcon Inc. The February 28, 2019, shareholder approval for the spin-off required the Alcon Division and selected portions of corporate activities attributable to Alcon’s business (the “Alcon business”) to be reported as discontinued operations. The shareholder approval to spin off the Alcon business also required the recognition of a distribution liability at the fair value of the Alcon business. The Group elected to measure the distribution liability at the fair value of the Alcon business net assets taken as a whole. The distribution liability was recognized through a reduction in retained earnings. It was required to be adjusted at each balance sheet date for changes in its estimated fair value, up to the date of the distribution to shareholders through retained earnings. Any resulting impairment of the business assets to be distributed would have been recognized in the consolidated income statements in “Other expense” of discontinued operations, at the date of initial recognition of the distribution liability or at subsequent dates resulting from changes of the distribution liability valuation. At the April 8, 2019 distribution settlement date, the resulting gain, which was measured as the excess amount of the distribution liability over the then-carrying value of the net assets of the business distributed, was recognized on the line “Gain on distribution of Alcon Inc. to Novartis AG shareholders” in the income statement of discontinued operations. The recognition of the distribution liability required the use of valuation techniques for purposes of impairment testing of the Alcon business’ assets to be distributed and for the measurement of the fair value of the distribution liability. These valuations required the use of management assumptions and estimates related to the Alcon business’ future cash flows, market multiples to estimate day one market value, and control premiums to apply in estimating the Alcon business fair value. These fair value measurements were classified as “Level 3” in the fair value hierarchy. The section “—Impairment of goodwill and intangible assets” in this Note 1 provides additional information on key assumptions that are highly sensitive in the estimation of fair values using valuation techniques. Transaction costs that were directly attributable to the distribution (spin-off) of Alcon to the Novartis shareholders, and that would otherwise have been avoided, were recorded as a deduction from equity. For additional disclosures, refer to “Note 2. Significant transactions—Significant transactions in 2019—Completion of the spin-off of the Alcon business through a dividend in kind distribution to Novartis AG shareholders,” and “Note 30. Discontinued operations.” Acquisition of assets and businesses Assets separately acquired are recorded at cost, which includes the purchase price and any directly attributable costs for bringing the asset into the condition to operate as intended. Expected costs for obligations to dismantle and remove property, plant and equipment when they are no longer used are included in their cost. Acquired businesses are accounted for using the acquisition method, unless the optional concentration test is applied. The optional concentration test allows for the election on a transaction-by-transaction basis to account for the acquired business as an asset separately acquired when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The acquisition method requires that the assets acquired and liabilities assumed be recorded at their respective fair values on the date the Group obtains control. The excess of the fair value of the total purchase consideration transferred and the fair value of the acquired assets and assumed liabilities is recognized as goodwill. The related valuations are based on information available at the acquisition date. Acquisition related costs are expensed as incurred. The application of the acquisition method requires certain estimates and assumptions to be made, especially concerning the fair values of the acquired intangible assets, inventories, property, plant and equipment and the liabilities assumed at the acquisition date, and the useful lives of the intangible assets and property, plant and equipment. Estimates of fair value require the use of valuation techniques. These valuations require the use of management assumptions and estimates, including value of comparable assets in the market, amount and timing of future cash flows, outcomes and costs of research and development activities, probability of obtaining regulatory approval, long-term sales forecasts, actions of competitors, discount rates and terminal growth rates. The section “—Impairment of goodwill and intangible assets” in this Note 1 provides additional information on key assumptions that are highly sensitive in the estimation of fair values using valuation techniques. Property, plant and equipment Property, plant and equipment are depreciated on a straight-line basis in the consolidated income statement over their estimated useful lives. Freehold land is not depreciated. The related depreciation expense is included in the costs of the functions using the asset. Property, plant and equipment are assessed for impairment whenever there is an indication that the balance sheet carrying amount may not be recoverable using cash flow projections for the useful life. The following table shows the respective useful lives for property, plant and equipment: Useful life Buildings 20 to 40 years Machinery and other equipment Machinery and equipment 7 to 20 years Furniture and vehicles 5 to 10 years Computer hardware 3 to 7 years Government grants obtained for construction activities, including any related equipment, are deducted from the gross acquisition cost to arrive at the balance sheet carrying value of the related assets. Leases and right-of-use assets From January 1, 2019, with the adoption of IFRS 16 Leases, the Group adopted the following accounting policies for leases and right-of-use assets: As lessee, the Group assesses whether a contract contains a lease at inception of a contract and upon the modification of a contract. The Group elected to allocate the consideration in the contract to the lease and non-lease components on the basis of the relative standalone price. The Group recognizes a right-of-use asset and a corresponding lease liability for all arrangements in which it is a lessee, except for leases with a term of 12 months or less (short-term leases) and low-value leases. For these short-term and low-value leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease. The lease liability is initially measured at the present value of the future lease payments as from the commencement date of the lease to the end of the lease term. The lease term includes the period of any lease extension that in management’s assessment is highly probable to be exercised by the Group. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, the Novartis incremental borrowing rate for the asset subject to the lease in the respective markets. The Group remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever there is a change to the lease terms or expected payments under the lease, or a modification that is not accounted for as a separate lease. The portion of the lease payments attributable to the repayment of lease liabilities is recognized in cash flows used in financing activities, and the portion attributable to the payment of interest is included in cash flows from operating activities. Right-of-use assets are initially recognized on the balance sheet at cost, which comprises the amount of the initial measurement of the corresponding lease liability, adjusted for any lease payments made at or prior to the commencement date of the lease, any lease incentive received and any initial direct costs incurred by Novartis, and expected costs for obligations to dismantle and remove right-of-use assets when they are no longer used. Right-of-use assets are depreciated on a straight-line basis from the commencement date of the lease over the shorter of the useful life of the right-of-use asset or the end of the lease term. Right-of-use assets are assessed for impairment whenever there is an indication that the balance sheet carrying amount may not be recoverable using cash flow projections for the useful life. In arrangements where the Group is the lessor, it determines at lease inception whether the lease is a finance lease or an operating lease. Leases that transfer substantially all of the risk and rewards incidental to ownership of the underlying asset to the counterparty (the lessee) are accounted for as finance leases. Leases that do not transfer substantially all of the risks and rewards of ownership are accounted for as operating leases. Lease payments received under operating leases are recognized on a straight-line basis over the lease term in the consolidated income statement in either “net sales” or “other income,” depending on the nature of and underlying asset to the lease arrangement. Prior to January 1, 2019, the Group applied the following accounting policies for leases: Leases that transferred substantially all of the risks and rewards of ownership were recognized as finance leases, with the leased asset measured initially at an amount equal to the lower of their fair value and the present value of the minimum lease payments. Minimum lease payments were the payments over the lease term that the Group, as leasee, was required to make, excluding contingent rent. The underlying asset was accounted for in accordance with the accounting policy applicable to that asset. Leases that did not transfer substantially all of the risks and rewards of ownership were accounted for as operating leases and were not recognized in the consolidated balance sheet. Payments made under operating leases were recognized in the consolidated income statement on a straight-line basis over the term of the lease. Lease incentives received were deferred and recognized as a component of lease expense over the term of the lease. The future undiscounted lease payments under operating leases were disclosed as commitments in the notes to the consolidated financial statements. Lessor accounting policies were not substantially different from those applied upon the adoption of IFRS 16 Leases, as described above. The section “—Impact of adopting significant new IFRS standards in 2019” in this Note 1 provides additional disclosures on the impact of adoption of IFRS 16 Leases. Goodwill and intangible assets Goodwill Goodwill arises in the acquisition of a business when applying the acquisition method and is the excess of the fair value of the consideration transferred to acquire a business over the underlying fair value of the net identified assets acquired. It is allocated to groups of cash-generating units (CGUs), which are usually represented by the reported segments. Goodwill is tested for impairment annually at the level of these groups of CGUs, and any impairment charges are recorded under “Other expense” in the consolidated income statement. Intangible assets available for use Novartis has the following classes of available for use intangible assets: currently marketed products; technologies; other intangible assets (including computer software). Currently marketed products represent the composite value of acquired intellectual property (IP), patents, distribution rights and product trade names. Technologies represent identified and separable acquired know-how used in the research, development and production processes. Significant investments in internally developed and acquired computer software are capitalized and included in the “Other” category, and amortized once available for use. Intangible assets available for use with a definite useful life are amortized over their estimated useful lives on a straight-line basis and are evaluated for potential impairment whenever facts and circumstances indicate that their carrying value may not be recoverable. The following table shows the respective useful lives for intangible assets available for use and the location in the consolidated income statement in which the respective amortization and any potential impairment charge is recognized: Income statement location Currently marketed products 5 to 20 years "Cost of goods sold" Technologies 10 to 20 years "Cost of goods sold" Other (including 3 to 7 years In the respective Intangible assets not yet available for use Acquired research and development intangible assets that are still under development and have accordingly not yet obtained marketing approval are recognized as in-process research and development (IPR&D). IPR&D is not amortized, but is evaluated for potential impairment on an annual basis or when facts and circumstances warrant. Any impairment charge is recorded in the consolidated income statement under “Research and development.” Once a project included in IPR&D has been successfully developed, it is transferred to the “Currently marketed products” category. Impairment of goodwill and intangible assets An asset is considered impaired when its balance sheet carrying amount exceeds its estimated recoverable amount, which is defined as the higher of its fair value less costs of disposal and its value in use. Usually, Novartis applies the fair value less costs of disposal method for its impairment assessment. In most cases, no directly observable market inputs are available to measure the fair value less costs of disposal. Therefore, an estimate is derived indirectly and is based on net present value techniques utilizing post-tax cash flows and discount rates. In the limited cases where the value-in-use method would be applied, net present value techniques would be applied using pre-tax cash flows and discount rates. Fair value less costs of disposal reflects estimates of assumptions that market participants would be expected to use when pricing the asset or CGUs, and for this purpose, management considers the range of economic conditions that are expected to exist over the remaining useful life of the asset. The estimates used in calculating the net present values are highly sensitive and depend on assumptions specific to the nature of the Group’s activities with regard to: • Amount and timing of projected future cash flows • Long-term sales forecasts • Actions of competitors (launch of competing products, marketing initiatives, etc.) • Sales erosion rates after the end of patent or other intellectual property rights protection, and timing of the entry of generic competition • Outcome of research and development activities (compound efficacy, results of clinical trials, etc.) • Amount and timing of projected costs to develop IPR&D into commercially viable products • Profit margins • Probability of obtaining regulatory approval • Future tax rate • Appropriate terminal growth rate • Appropriate discount rate Generally, for intangible assets with a definite useful life, Novartis uses cash flow projections for the whole useful life of these assets. For goodwill, Novartis generally utilizes cash flow projections for a five-year period based on management forecasts, with a terminal value based on cash flow projections usually in line with inflation rates for later periods. Probability-weighted scenarios are typically used. Discount rates used consider the Group’s estimated weighted average cost of capital, adjusted for specific asset, country and currency risks associated with cash flow projections, to approximate the discount rate that market participants would use to value the asset. Due to the above factors, actual cash flows and values could vary significantly from forecasted future cash flows and related values derived using discounting techniques. Impairment of associated companies accounted for at equity Novartis considers investments in associated companies for impairment evaluation whenever objective evidence indicates the net investment may be impaired, including when a quoted share price indicates a fair value less than the per-share balance sheet carrying value for the investment. If the recoverable amount of the investment is estimated to be lower than the balance sheet carrying amount, an impairment charge is recognized for the difference in the consolidated income statement under “Income from associated companies.” Cash and cash equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less, which are readily convertible to known amounts of cash. Bank overdrafts are usually presented within current financial debts on the consolidated balance sheet, except in cases where a right of offset has been agreed with a bank, which then allows for presentation on a net basis. Marketable securities, commodities and non-current financial assets Commodities, which include gold bullion or coins, are valued at the lower of cost or fair value using current market prices. The changes in fair value below cost are immediately recorded in “Other financial income and expense.” Marketable securities are financial assets held for short-term purposes which are principally traded in liquid markets and are classified within current assets on the consolidated balance sheet. The financial impacts related to these financial assets are recorded in “Other financial income and expense” in the consolidated income statement. Non-current financial assets held for long-term strategic purposes are classified within non-current assets on the consolidated balance sheet. The financial impacts related to these financial assets are recorded in “Other income” and “Other expense” in the consolidated income statement. Marketable securities and non-current financial assets are initially recorded at fair value on their trade date, which is different from the settlement date when the transaction is ultimately effected. Quoted securities are remeasured at each reporting date to fair value based on current market prices. If the market for a financial asset is not active or no market is available, fair values are established using valuation techniques. The majority of non-quoted investments are valued initially at fair value through the established purchase price between a willing buyer and seller. Non-quoted investments are subsequently adjusted based on values derived from discounted cash flow analysis or other pricing models. These investment values are classified as “Level 3” in the fair value hierarchy. The Group classifies and accounts for its marketable securities and non-current financial assets in the following categories: • Debt securities are valued at fair value through other comprehensive income with subsequent recycling into the consolidated income statement, as they meet both the “solely payment of principal and interest” and the business model criteria. Unrealized gains and losses, except exchange gains and losses, are recorded as a fair value adjustment in the consolidated statement of comprehensive income. They are recognized in the consolidated income statement when the debt instrument is sold, at which time the gain is transferred to “Other financial income and expense.” Exchange gains and losses related to debt instruments are immediately recognized in the consolidated income statement to “Other financial income and expense.” • Fund investments and equity securities of the Novartis venture fund are valued at fair value through profit and loss (FVPL). Unrealized gains and losses, including exchange gains and losses, are recognized in the consolidated income statement to “Other income” for gains and “Other expense” for losses. • Equity securities held as strategic investments, typically held outside of the Novartis venture fund, are generally designated at the date of acquisition as financial assets valued at fair value through other comprehensive income with no subsequent recycling through profit and loss. Unrealized gains and losses, including exchange gains and losses, are recorded as a fair value adjustment in the consolidated statement of comprehensive income. They are reclassified to retained earnings when the equity security is sold. If these equity securities are not designated at the date of acquisition as financial assets valued at fair value through other comprehensive income, they are valued at FVPL, as described above. • Other non-current financial assets, such as loans and long-term receivables from customers, advances and other deposits, are valued at amortized cost, which reflects the time value of money less any allowances for expected credit losses. The Group assesses on a forward-looking basis the expected credit losses associated with its debt securities valued at fair value through other comprehensive income. Impairments on debt securities are recorded in “Other financial income and expense.” For other financial assets valued at amortized cost, impairments, which are based on their expected credit losses, and exchange rate losses are included in “Other expense” in the consolidated income statement. Exchange rate gains and interest income, using the effective interest rate method, are included in “Other income” or “Other financial income” in the consolidated income statement, depending on the nature of the item. Derivative financial instruments Derivative financial instruments are initially recognized in the balance sheet at fair value and are remeasured to their current fair value at the end of each subsequent reporting period. The valuation of a forward exchange rate contract is based on the discounted cash flow model, using interest curves and spot rates at the reporting date as observable inputs. Options are valued based on a modified Black-Scholes model using volatility and exercise prices as major observable inputs. The Group utilizes derivative financial instruments for the purpose of hedging to reduce the volatility in the Group’s performance due to the exposure to various business related risks. To mitigate these risks, the Group enters into certain derivative financial instruments. The risk reduction is obtained because the derivative’s value or cash flows are expected, wholly or partly, to offset changes in the value or cash flows of the recognized assets or liabilities. The overall strategy is aiming to mitigate the currency and interest rate risk of positions that are contractually agreed, and to partially mitigate the exposure risk of selected anticipated transactions. Certain derivative financial instruments meet the criteria for hedge accounting treatment. A prerequisite for obtaining this accounting-hedge relationship is extensive documentation on inception and proving on a regular basis that the economic hedge is effective for accounting purposes. Other derivative financial instruments do not meet the criteria to qualify for hedge accounting. Changes in the fair value of these derivative instruments are recognized immediately in “Other financial income and expense” in the consolidated income statement. In addition, the Group has designated certain long-term debt components as hedges of the translation risk arising on certain net investments in foreign operations. On consolidation, foreign currency differences arising on long-term debt designated as net investment hedges of a foreign operation are recognized in other comprehensive income and accumulated in currency translation effects, to the extent that the hedge is effective. The foreign currency differences arising from hedge ineffectiveness are recognized in the income statement in “Other financial income and expense.” When a hedged net investment is disposed of, the proportionate portion of the cumulative amount recognized in equity in relation to the hedged net investment is transferred to the consolidated income statement as an adjustment to the gain or loss on disposal. Inventories Inventory is valued at the lower of acquisition or production cost determined on a first-in, first-out basis and net realizable value. This value is used for the “Cost of goods sold” in the consolidated income statement. Unsaleable inventory is fully written off in the consolidated income statement under “Cost of goods sold.” Trade receivables Trade receivables are initially recognized at their invoiced amounts, including any related sales taxes less adjustments for estimated revenue deductions such as rebates, chargebacks and cash discounts. The provisions for doubtful trade receivables are established using an expected credit loss model (ECL). The provisions are based on a forward-looking ECL, which includes possible default events on the trade receivables over the entire holding period of the trade receivable. These provisions represent the difference between the trade receivable’s carrying amount in the consolidated balance sheet and the estimated collectible amount. Charges for doubtful trade receivables are recorded as marketing and selling costs recognized in the consolidated income statement within “Selling, general and administration” expenses. Legal and environmental liabilities Novartis and its subsidiaries are subject to contingencies arising in the ordinary course of business, such as patent litigation, environmental remediation liabilities and other product-related litigation, commercial litigation, and governmental investigations and proceedings. Provisions are recorded where a reliable estimate can be made of the probable outcome of legal or other disputes against the subsidiary. Contingent consideration In an acquisition or a divestment of a business, it is necessary to recognize contingent future amounts due to previous owners, representing contractually defined potential amounts as a liability or an asset. Usually for Novartis, these are linked to milestone or royalty payments related to certain assets and are recognized as a financial liability or financial asset at fair value, which is then remeasured at each subsequent reporting date. These estimations typically depend on factors such as technical milestones or market performance, and are adjusted for the probability of their likelihood of payment, and are appropriately discounted to reflect the impact of time. Changes in the fair value of contingent consideration liabilities in subsequent periods are recognized in the consolidated income statement in “Cost of goods sold” for currently marketed products and in “Research and development” for IPR&D. Changes in contingent consideration assets are recognized in “Other income” or “Other expense,” depending on their nature. The effect of unwinding the discount over time is recognized for contingent liabilities in “Interes |
Significant transactions
Significant transactions | 12 Months Ended |
Dec. 31, 2020 | |
Statement [line items] | |
Significant transactions | 2. Significant transactions Significant transactions in 2020 The Group applied the acquisition method of accounting for businesses acquired, and did not elect to apply the optional concentration test to account for acquired business as an asset separately acquired. Innovative Medicines – acquisition of The Medicines Company On November 23, 2019, Novartis entered into an agreement and plan of merger (the Merger Agreement) with The Medicines Company, a US-based pharmaceutical company headquartered in Parsippany, New Jersey USA. Pursuant to the Merger Agreement, on December 5, 2019, Novartis, through a subsidiary, commenced a tender offer to acquire all outstanding shares of The Medicines Company for USD 85 per share, or a total consideration of approximately USD 9.6 billion in cash on a fully diluted basis, including the equivalent share value related to The Medicines Company’s convertible notes, in accordance with their terms. The tender offer expired on January 3, 2020, and on January 6, 2020, the acquiring subsidiary merged with and into The Medicines Company, resulting in The Medicines Company becoming an indirect wholly owned subsidiary of Novartis. Novartis financed the transaction through available cash, and short- and long-term borrowings. The Medicines Company is focused on the development of inclisiran, a potentially first-in-class, twice yearly therapy that allows administration during patients’ routine visits to their healthcare professionals and will potentially contribute to improved patient adherence and sustained lower LDL-C levels. The fair value of the total purchase consideration was USD 9.6 billion. The purchase price allocation resulted in net identifiable assets of approximately USD 7.1 billion, consisting of USD 8.5 billion intangible assets, USD 1.4 billion net deferred tax liabilities and goodwill of approximately USD 2.5 billion. Results of operations since the date of acquisition were not material. Sandoz – acquisition of the Japanese business of Aspen Global Incorporated On November 11, 2019, Sandoz entered into an agreement for the acquisition of the Japanese business of Aspen Global Incorporated (AGI), a wholly owned subsidiary of Aspen Pharmacare Holdings Limited. Under the agreement, Sandoz acquired the shares in Aspen Japan K.K. and associated assets held by AGI. The transaction closed on January 31, 2020. Aspen’s portfolio in Japan consists of off-patent medicines with a focus on anesthetics and specialty brands. The acquisition will enable Sandoz to expand its presence in the third-largest worldwide generics marketplace. The purchase price consists of EUR 274 million (USD 303 million) upfront payment, less customary purchase price adjustment of EUR 27 million (USD 30 million), plus potential milestone payments of up to EUR 70 million (USD 77 million), which AGI is eligible to receive upon the achievement of specified milestones. The fair value of the total purchase consideration was EUR 294 million (USD 324 million). The amount consisted of a cash payment of EUR 247 million (USD 273 million) and the fair value of contingent consideration of EUR 47 million (USD 51 million), which AGI is eligible to receive upon the achievement of specified milestones. The purchase price allocation resulted in net identifiable assets of USD 238 million, consisting of USD 196 million intangible assets, USD 26 million other net assets, USD 16 million net deferred tax assets. Goodwill amounted to USD 86 million. Results of operations since the date of acquisition were not material. Sandoz – retention of US dermatology business and generic US oral solids portfolio, previously planned to be divested On September 6, 2018, Novartis announced that it entered into a stock and asset purchase agreement (SAPA) with Aurobindo Pharma USA Inc. (Aurobindo) for the sale of selected portions of its Sandoz US portfolio, specifically the Sandoz US dermatology business and generic US oral solids portfolio, for USD 0.8 billion in cash and potential earnouts. The closing was conditional on obtaining regulatory approval. In March 2020, Novartis took the decision to retain the Sandoz US generic oral solids and dermatology businesses and on April 2, 2020 entered into a mutual agreement with Aurobindo to terminate the transaction. The decision was taken as approval from the US Federal Trade Commission for the transaction was not obtained within the agreed timelines. The cumulative amount of the depreciation on property, plant and equipment (USD 38 million) and amortization on intangible assets (USD 102 million), not recorded in the consolidated income statement since the date of classification as held for sale was recognized in the consolidated income statement in the first quarter of 2020. In addition, an impairment of currently marketed products of USD 42 million was recognized in the first quarter of 2020 consolidated income statement. As at March 31, 2020, the assets and liabilities of the Sandoz US generic oral solids and dermatology businesses were reclassified out of assets and liabilities of disposal group held for sale. The prior year balance sheet is not required to be restated. In the Group’s consolidated balance sheet at December 31, 2019, the assets and liabilities classified as disposal group assets and liabilities held for sale consisted of the following: December 31, Assets of disposal group classified as held for sale Property, plant and equipment 169 Intangible assets other than goodwill 475 Deferred tax assets 11 Other non-current assets 2 Inventories 181 Other current assets 3 Total 841 December 31, Liabilities of disposal group classified as held for sale Deferred tax liabilities 2 Provisions and other non-current Provisions and other current liabilities 25 Total 31 There were no cumulative income or expenses included in the other comprehensive income relating to the disposal group. Significant transactions in 2019 Completion of the spin-off of the Alcon business through a dividend in kind distribution to Novartis AG shareholders On June 29, 2018, Novartis announced its intention to seek shareholder approval for the spin-off of the Alcon business into a separately traded standalone company, following the complete structural separation of the Alcon business into a standalone company (the Alcon business or Alcon Inc.). The Novartis AG shareholders approved the spin-off of the Alcon business at the 2019 Annual General Meeting held on February 28, 2019, subject to completion of certain conditions precedent to the distribution. Upon shareholder approval, the Alcon business was reported as discontinued operations, and the fair value of the Alcon business exceeded the carrying value of its net assets. The conditions precedent to the spin-off were met and on April 8, 2019 the spin-off of the Alcon business was effected by way of a distribution of a dividend in kind of Alcon Inc. shares to Novartis AG shareholders and ADR (American Depositary Receipt) holders (the Distribution), which amounted to USD 23.4 billion and is recognized as a reduction to retained earnings. Through the Distribution, each Novartis AG shareholder received one Alcon Inc. share for every five Novartis AG shares/ADRs they held on April 8, 2019, close of business. As of April 9, 2019, the shares of Alcon Inc. are listed on the SIX Swiss Exchange (SIX) and on the New York Stock Exchange (NYSE) under the symbol “ALC.” The dividend in kind distribution liability to effect the spin-off of the Alcon business (the distribution liability) amounted to USD 26.4 billion at March 31, 2019, unchanged from its initial recognition on February 28, 2019, and was in excess of the carrying value of the Alcon business net assets as of February 28, 2019, and as of March 31, 2019. The net assets of the Alcon business amounted to USD 23.1 billion as at March 31, 2019. On March 6, 2019, Alcon entered into financing arrangements with a syndicate of banks under which it borrowed on April 2, 2019, a total amount of USD 3.2 billion. These borrowings consisted of approximately USD 2.8 billion and the equivalent of USD 0.4 billion in EUR in bridge and other term loans under such Alcon facilities agreement. In addition, approximately USD 0.3 billion of borrowings under a number of local bilateral facilities in different countries, with the largest share of borrowings in Japan, were raised. This resulted in a total gross debt of USD 3.5 billion. These outstanding borrowings of the Alcon legal entities were recorded in the balance sheet and financing cash flow from discontinued operations. Prior to the spin-off, through a series of intercompany transactions, Alcon legal entities paid approximately USD 3.1 billion in cash to Novartis and its affiliates. At the April 8, 2019 Distribution, the fair value of the distribution liability of the Alcon business amounted to USD 23.4 billion, a decrease of USD 3.0 billion from March 31, 2019. As mentioned above, prior to the spin-off, through a series of intercompany transactions, Alcon legal entities incurred additional net financial debt and paid approximately USD 3.1 billion in cash to Novartis and its affiliates. This additional net debt and transactions resulted in a decrease in Alcon’s net assets to USD 20.0 billion at the date of the Distribution of the dividend in kind to Novartis AG shareholders on April 8, 2019. The distribution liability at April 8, 2019, remained in excess of the then-carrying value of the Alcon business net assets. Certain consolidated foundations own Novartis AG dividend-bearing shares restricting their availability for use by the Group. These Novartis AG shares are accounted for as treasury shares. Through the Distribution, these foundations received Alcon Inc. shares representing an approximate 4.7% equity interest in Alcon Inc. Upon the loss of control of Alcon Inc. through the Distribution, the financial investment in Alcon Inc. was recognized at its fair value based on the opening traded share price of Alcon Inc. on April 9, 2019 (a Level 1 hierarchy valuation). At initial recognition, its fair value of USD 1.3 billion was reported on the Group’s consolidated balance sheet as a financial asset. Management has designated this investment at fair value through other comprehensive income. The total non-taxable, non-cash gain recognized at the distribution date of the spin-off of the Alcon business amounted to USD 4.7 billion consisting of: April 8, Net assets derecognized 1 – 20 025 Derecognition of distribution liability 23 434 Difference between net assets and distribution liability 3 409 Recognition of Alcon Inc. shares obtained Currency translation gains recycled into Transaction costs recognized in the consolidated income statement – 114 Gain on distribution of Alcon Inc. to Novartis AG shareholders 4 691 1 For additional disclosures on discontinued operations, refer to Note 30. Innovative Medicines – acquisition of IFM Tre, Inc. On May 7, 2019, Novartis acquired IFM Tre, Inc., a privately held, US-based biopharmaceutical company focused on developing anti-inflammatory medicines targeting the NLRP3 inflammasome. The acquisition gives Novartis full rights to IFM Tre, Inc.’s portfolio of NLRP3 antagonists. The NLRP3 antagonists portfolio consists of one clinical program and two preclinical programs: IFM-2427, a first-in-class, clinical-stage systemic antagonist for an array of chronic inflammatory disorders, including atherosclerosis and nonalcoholic steatohepatitis (NASH); a preclinical-stage gut-directed molecule for the treatment of inflammatory bowel disease; and a preclinical-stage central nervous system (CNS)-penetrant molecule. The previously held interest of 9% was adjusted to its fair value of USD 33 million through the consolidated income statement at acquisition date. This remeasurement resulted in a gain of USD 14 million. The fair value of the total purchase consideration for acquiring the 91% stake Novartis did not already own amounted to USD 361 million. The amount consisted of an initial cash payment of USD 285 million, and the fair value of the contingent consideration of USD 76 million due to the IFM Tre, Inc. shareholders, which they are eligible to receive upon the achievement of specified development and commercialization milestones. The purchase price allocation resulted in net identifiable assets of USD 355 million, mainly intangible assets, and goodwill of USD 39 million. The 2019 results of operations since the date of acquisition were not material. Innovative Medicines – acquisition of Xiidra On May 8, 2019, Novartis entered into an agreement with Takeda Pharmaceutical Company Limited (Takeda) to acquire the assets associated with Xiidra Xiidra The fair value of the total purchase consideration is USD 3.7 billion. The amount consists of an initial cash payment of USD 3.5 billion, and the fair value of the contingent consideration of USD 0.2 billion, which Takeda is eligible to receive upon the achievement of specified commercialization milestones. The purchase price allocation resulted in net identifiable assets of approximately USD 3.6 billion, consisting mainly of intangible assets of USD 3.6 billion, and goodwill amounted to approximately USD 0.1 billion. In 2019, from the date of acquisition, the business generated net sales of USD 0.2 billion. Management estimates that net sales for the entire year of 2019 would have amounted to USD 0.3 billion, had the business been acquired at the beginning of the 2019 reporting period. The 2019 results of operations since the date of acquisition were not material. Significant transactions in 2018 Innovative Medicines – acquisition of Advanced Accelerator Applications S.A. On October 30, 2017, Novartis entered into a binding memorandum of understanding with Advanced Accelerator Applications S.A. (AAA), a company headquartered in Saint-Genis-Pouilly, France, under which Novartis agreed to commence a tender offer for 100% of the share capital of AAA subject to certain conditions. Novartis commenced the tender offer on December 7, 2017, to purchase all of the outstanding ordinary shares for a price of USD 41 per share and USD 82 per American Depositary Share (ADS), each representing two ordinary shares of AAA, which expired on January 19, 2018. The offer valued AAA’s equity at USD 3.9 billion, on a fully diluted basis. As of January 19, 2018, the expiration date of the tender offer, approximately 97% of the then-outstanding fully diluted ordinary shares, including ordinary shares represented by ADSs (hereinafter collectively referred to as “the outstanding shares”), were validly tendered. On January 22, 2018, Novartis accepted and paid USD 3.9 billion for the outstanding shares tendered in the offer. On January 22, 2018, Novartis commenced a subsequent offering period that expired on January 31, 2018. As of the expiration of the subsequent offering period, an additional 1.8% of the outstanding shares were validly tendered. Novartis accepted and paid approximately USD 60 million, resulting in an increase in Novartis ownership in AAA to 98.7%. The fair value of the total purchase consideration was USD 3.9 billion. The purchase price allocation resulted in net identifiable assets of approximately USD 1.9 billion, consisting of USD 2.5 billion intangible assets, USD 0.6 billion net deferred tax liabilities, and goodwill of approximately USD 2.0 billion. In 2018, from the date of the acquisition, the business generated net sales of USD 0.4 billion. Management estimated that net sales for the entire year of 2018 would have amounted to USD 0.4 billion had AAA been acquired at the beginning of 2018. The 2018 results from operations since the acquisition were not material. As of December 31, 2020, Novartis held 99.2% of the then-outstanding fully diluted ordinary shares, including ordinary shares represented by ADSs. AAA is a radiopharmaceutical company that develops, produces and commercializes molecular nuclear medicines – including Lutathera 177 Lutathera Innovative Medicines – acquisition of AveXis, Inc. On April 6, 2018, Novartis entered into an agreement and plan of merger with AveXis, Inc., a US-based clinical stage gene therapy company, under which Novartis commenced on April 17, 2018, a tender offer to purchase all outstanding common stock of AveXis, Inc. for USD 218 per share in cash. On May 15, 2018, Novartis completed the acquisition of the common stock of AveXis, Inc. and paid a total of USD 8.7 billion. The fair value of the total purchase consideration was USD 8.7 billion. The purchase price allocation resulted in net identifiable assets of approximately USD 7.2 billion, consisting of USD 8.5 billion intangible assets, USD 1.6 billion net deferred tax liabilities and other net assets of USD 0.3 billion, and goodwill of approximately USD 1.5 billion. The 2018 results of operations since the date of acquisition were not material. AveXis, Inc. is focused on developing and commercializing novel treatments for patients suffering from rare and life-threatening neurological genetic diseases. AveXis, Inc.’s initial product candidate, AVXS-101, is a proprietary gene therapy currently in development for the treatment of spinal muscular atrophy (SMA) type 1 – the leading genetic cause of infant mortality – and SMA types 2 and 3. In addition, AveXis, Inc. has a pipeline of other novel treatments for rare neurological diseases, including Rett syndrome (RTT) and a genetic form of amyotrophic lateral sclerosis (ALS) caused by mutations in the superoxide dismutase 1 (SOD1) gene. Innovative Medicines – acquisition of Endocyte, Inc. On October 18, 2018, Novartis entered into an agreement and plan of merger with Endocyte, Inc. (Endocyte), a US-based biopharmaceutical company focused on developing targeted therapeutics for cancer treatment. The transaction was completed on December 21, 2018. Under the terms of the agreement, Novartis acquired all outstanding shares of Endocyte common stock for USD 24 per share. The total consideration amounted to USD 2.1 billion. The fair value of the total purchase consideration was USD 2.1 billion. The purchase price allocation resulted in net identifiable assets of approximately USD 1.5 billion, consisting of USD 1.5 billion intangible assets, USD 0.3 billion net deferred tax liabilities and other net assets of USD 0.3 billion, and goodwill of approximately USD 0.6 billion. The purchase price allocation was preliminary at December 31, 2018, as the transaction closed on December 21, 2018, which was close to the Group’s year-end and therefore did not provide sufficient time to complete the valuation of the intangible assets, deferred taxes, assumed liabilities and goodwill. During 2019, there were no significant revisions to the purchase price allocation. Endocyte uses drug conjugation technology to develop targeted therapies with companion imaging agents, including 177Lu-PSMA-617, a potential first-in-class investigational radioligand therapy for the treatment of metastatic castration-resistant prostate cancer (mCRPC). Corporate – divestment of 36.5% stake in GlaxoSmithKline Consumer Healthcare Holdings Ltd. On March 27, 2018, Novartis entered into an agreement with GlaxoSmithKline plc (GSK) to divest its 36.5% stake in GlaxoSmithKline Consumer Healthcare Holdings Ltd. to GSK for USD 13.0 billion in cash. As a result, Novartis discontinued the use of equity method accounting starting from April 1, 2018. On June 1, 2018, the transaction closed and Novartis realized a pre-tax gain of USD 5.8 billion, recorded in income from associated companies. For significant transactions in 2019 for discontinued operations, see Note 30. There were no significant transactions in 2020 for discontinued operations. |
Segmentation of key figures
Segmentation of key figures | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of operating segments [abstract] | |
Segmentation of key figures | 3. Segmentation of key figures 2020, 2019 and 2018 The businesses of Novartis are divided operationally on a worldwide basis into two identified reporting segments: Innovative Medicines and Sandoz. In addition, we separately report Corporate activities. Reporting segments are presented in a manner consistent with the internal reporting to the chief operating decision-maker, which is the Executive Committee of Novartis. The reporting segments are managed separately because they each research, develop, manufacture, distribute and sell distinct products that require differing marketing strategies. The Executive Committee of Novartis is responsible for allocating resources and assessing the performance of the reporting segments. The reporting segments are as follows: Innovative Medicines researches, develops, manufactures, distributes and sells patented prescription medicines. The Innovative Medicines Division is organized into two global business units: Novartis Oncology and Novartis Pharmaceuticals. Novartis Oncology consists of the global business franchise Oncology, and Novartis Pharmaceuticals consists of the global business franchises Immunology, Hepatology and Dermatology; Ophthalmology; Neuroscience; Cardiovascular, Renal and Metabolism; Respiratory; and Established Medicines. Sandoz develops, manufactures and markets finished dosage form medicines as well as intermediary products including active pharmaceutical ingredients. Sandoz is organized globally into three franchises: Retail Generics, Anti-Infectives and Biopharmaceuticals. In Retail Generics, Sandoz develops, manufactures and markets active ingredients and finished dosage forms of small molecule pharmaceuticals to third parties across a broad range of therapeutic areas, as well as finished dosage form of anti-infectives sold to third parties. In Anti-Infectives, Sandoz manufactures and supplies active pharmaceutical ingredients and intermediates, mainly antibiotics, for internal use by Retail Generics and for sale to third-party customers. In Biopharmaceuticals, Sandoz develops, manufactures and markets protein- or other biotechnology-based products, including biosimilars, and provides biotechnology manufacturing services to other companies. Income and expenses relating to Corporate include the costs of the Group headquarters and those of corporate coordination functions in major countries. In addition, Corporate includes other items of income and expense that are not attributable to specific segments, such as certain revenues from intellectual property rights, certain expenses related to post-employment benefits, environmental remediation liabilities, charitable activities, donations and sponsorships. Usually, no allocation of Corporate items is made to the segments. As a result, Corporate assets and liabilities principally consist of net liquidity (cash and cash equivalents, marketable securities less financial debts), investments in associated companies, and current and deferred taxes and non-segment-specific environmental remediation and post-employment benefit liabilities. Our divisions are supported by the Novartis Institutes for BioMedical Research, Global Drug Development, Novartis Technical Operations and Novartis Business Services organizations. • The Novartis Institutes for BioMedical Research (NIBR) conducts research activities for the Innovative Medicines Division and also collaborates with Sandoz. • The Global Drug Development organization oversees all drug development activities for our Innovative Medicines Division and collaborates with our Sandoz Division on the development of its biosimilars portfolio. • The Novartis Technical Operations organization manages our manufacturing operations across our Innovative Medicines and Sandoz Divisions. • Novartis Business Services (NBS) is our shared services organization that delivers business support services across the Group, such as information technology, real estate and facility services, procurement, product lifecycle services, human resources, and financial reporting and accounting operations. Following the February 28, 2019, shareholders’ approval of the spin-off of the Alcon business (refer to Notes 1, 2 and 30 for further details), the Group reported its consolidated financial statements as “continuing operations” and “discontinued operations.” Continuing operations comprise the activities of the Innovative Medicines and Sandoz Divisions, and the continuing Corporate activities. Discontinued operations include the operational results from the Alcon eye care devices business and certain corporate activities attributable to the Alcon business prior to the spin-off, the gain on distribution of Alcon Inc. to Novartis AG shareholders, and certain other expenses related to the Distribution (refer to Notes 1, 2 and 30 for further details). The accounting policies mentioned in Note 1 are used in the reporting of segment results. Inter-segmental sales are made at amounts that are considered to approximate arm’s length transactions. The Executive Committee of Novartis evaluates segmental performance and allocates resources among the segments based on a number of measures, including net sales, operating income and net operating assets. Segment net operating assets consist primarily of property, plant and equipment; right-of-use assets; intangible assets; goodwill; inventories; and trade and other operating receivables less operating liabilities. Segmentation – consolidated income statements Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2020 2019 2020 2019 2020 2019 2020 2019 Net sales to third parties from continuing operations 39 013 37 714 9 646 9 731 48 659 47 445 Sales to continuing and discontinued segments 792 783 189 141 – 981 – 871 53 Net sales from continuing operations 39 805 38 497 9 835 9 872 – 981 – 871 48 659 47 498 Other revenues 1 018 1 092 53 63 168 24 1 239 1 179 Cost of goods sold – 10 927 – 10 050 – 5 252 – 5 334 1 058 959 – 15 121 – 14 425 Gross profit from continuing operations 29 896 29 539 4 636 4 601 245 112 34 777 34 252 Selling, general and administration – 11 657 – 11 617 – 2 076 – 2 218 – 464 – 534 – 14 197 – 14 369 Research and development – 8 118 – 8 152 – 862 – 1 250 – 8 980 – 9 402 Other income 922 1 586 176 167 644 278 1 742 2 031 Other expense – 1 871 – 2 069 – 831 – 749 – 488 – 608 – 3 190 – 3 426 Operating income from continuing operations 9 172 9 287 1 043 551 – 63 – 752 10 152 9 086 Income from associated companies 1 1 2 2 670 656 673 659 Interest expense – 869 – 850 Other financial income and expense – 78 45 Income before taxes from continuing operations 9 878 8 940 Taxes – 1 807 – 1 793 Net income from continuing operations 8 071 7 147 Net loss from discontinued operations before gain on Gain on distribution of Alcon Inc. to Novartis AG shareholders 4 691 Net income from discontinued operations 4 590 Net income 8 071 11 737 Attributable to: Shareholders of Novartis AG 8 072 11 732 Non-controlling interests – 1 5 Included in net income from continuing operations are: Interest income 91 245 Depreciation of property, plant and equipment – 912 – 952 – 282 – 283 – 124 – 110 – 1 318 – 1 345 Depreciation of right-of-use assets – 273 – 247 – 41 – 41 – 16 – 17 – 330 – 305 Amortization of intangible assets – 3 080 – 2 509 – 370 – 315 – 12 – 12 – 3 462 – 2 836 Impairment charges on property, plant and equipment, net – 324 – 100 – 116 – 101 – 1 – 440 – 202 Impairment charges on intangible assets, net – 768 – 632 – 141 – 506 – 5 – 914 – 1 138 Impairment charges and fair value Additions to restructuring provisions – 217 – 229 – 98 – 165 – 39 – 98 – 354 – 492 Equity-based compensation of Novartis equity plans – 714 – 761 – 64 – 67 – 180 – 239 – 958 – 1 067 Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2019 2018 2019 2018 2019 2018 2019 2018 Net sales to third parties from continuing operations 37 714 34 892 9 731 9 859 47 445 44 751 Sales to continuing and discontinued segments 783 741 141 177 – 871 – 836 53 82 Net sales from continuing operations 38 497 35 633 9 872 10 036 – 871 – 836 47 498 44 833 Other revenues 1 092 1 188 63 62 24 16 1 179 1 266 Cost of goods sold – 10 050 – 9 870 – 5 334 – 5 530 959 890 – 14 425 – 14 510 Gross profit from continuing operations 29 539 26 951 4 601 4 568 112 70 34 252 31 589 Selling, general and administration – 11 617 – 10 907 – 2 218 – 2 305 – 534 – 505 – 14 369 – 13 717 Research and development – 8 152 – 7 675 – 1 250 – 814 – 9 402 – 8 489 Other income 1 586 977 167 505 278 147 2 031 1 629 Other expense – 2 069 – 1 475 – 749 – 622 – 608 – 512 – 3 426 – 2 609 Operating income from continuing operations 9 287 7 871 551 1 332 – 752 – 800 9 086 8 403 Income from associated companies 1 1 2 5 656 6 432 659 6 438 Interest expense – 850 – 932 Other financial income and expense 45 186 Income before taxes from continuing operations 8 940 14 095 Taxes – 1 793 – 1 295 Net income from continuing operations 7 147 12 800 Net loss from discontinued operations before gain on Gain on distribution of Alcon Inc. to Novartis AG shareholders 4 691 Net income/(loss) from discontinued operations 4 590 – 186 Net income 11 737 12 614 Attributable to: Shareholders of Novartis AG 11 732 12 611 Non-controlling interests 5 3 Included in net income from continuing operations are: Interest income 245 292 Depreciation of property, plant and equipment – 952 – 1 075 – 283 – 285 – 110 – 122 – 1 345 – 1 482 Depreciation of right-of-use assets 1 – 247 – 41 – 17 – 305 Amortization of intangible assets – 2 509 – 2 214 – 315 – 366 – 12 – 7 – 2 836 – 2 587 Impairment charges on property, plant and equipment, net – 100 – 239 – 101 – 60 – 1 – 2 – 202 – 301 Impairment charges on intangible assets, net – 632 – 592 – 506 – 249 – 1 138 – 841 Impairment charges and fair value Additions to restructuring provisions – 229 – 395 – 165 – 32 – 98 – 94 – 492 – 521 Equity-based compensation of Novartis equity plans – 761 – 645 – 67 – 53 – 239 – 220 – 1 067 – 918 1 Segmentation – consolidated balance sheets Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2020 2019 2020 2019 2020 2019 2020 2019 Total assets 83 112 71 225 16 825 16 468 32 122 30 677 132 059 118 370 Total liabilities – 15 472 – 15 332 – 3 786 – 3 804 – 56 135 – 43 683 – 75 393 – 62 819 Total equity 56 666 55 551 Net debt 1 24 481 15 938 24 481 15 938 Net operating assets 67 640 55 893 13 039 12 664 468 2 932 81 147 71 489 Included in assets and liabilities are: Total property, plant and equipment 9 863 9 632 1 849 1 888 551 549 12 263 12 069 Additions to property, plant 2 Total right-of-use assets 1 489 1 487 133 136 54 54 1 676 1 677 Additions to right-of-use assets 2 264 454 67 49 15 34 346 537 Total goodwill and intangible assets 56 839 46 336 9 817 8 892 152 83 66 808 55 311 Additions to goodwill and 2 Total investment in associated Additions to investment in associated Cash and cash equivalents, marketable securities, Financial debts and derivative Current income tax and deferred tax liabilities 9 880 8 061 9 880 8 061 1 2 The following table shows countries that accounted for more than 5% of at least one of the respective Group totals, as well as regional information for net sales to third parties for the years ended December 31, 2020, 2019 and 2018, and for selected non-current assets for the years ended December 31, 2020 and 2019: Net sales 1 Total of selected non-current assets 2 (USD millions) 2020 % 2019 % 2018 % 2020 % 2019 % Country Switzerland 800 2 848 2 795 2 34 904 39 33 032 43 United States 16 484 34 16 280 34 14 618 33 39 889 44 28 893 37 France 2 442 5 2 442 5 2 505 6 4 115 5 3 933 5 Germany 4 518 9 4 120 9 3 972 9 2 607 3 2 554 3 Japan 2 804 6 2 656 6 2 575 6 313 309 China 2 573 5 2 214 5 1 953 4 714 1 684 1 Other 19 038 39 18 885 39 18 333 40 7 837 8 8 296 11 Group 48 659 100 47 445 100 44 751 100 90 379 100 77 701 100 Region Europe 18 715 38 17 933 38 17 259 39 47 798 53 46 103 59 Americas 19 725 41 19 713 41 18 032 39 40 391 45 29 389 38 Asia/Africa/Australasia 10 219 21 9 799 21 9 460 22 2 190 2 2 209 3 Group 48 659 100 47 445 100 44 751 100 90 379 100 77 701 100 1 2 The Group’s largest, second-largest and third-largest customers account for approximately 17%, 11% and 6% of net sales, respectively (2019: 18%, 13% and 8%, respectively; 2018: 18%, 14% and 8%, respectively). All segments had sales to these customers in 2020, 2019 and 2018. The highest amounts of trade receivables outstanding were for these same three customers and amounted to approximately 14%, 12% and 6%, respectively, of the trade receivables at December 31, 2020 (2019: 14%, 12% and 7%, respectively). Segmentation – Net sales by region 1 Change Change Innovative Medicines Europe 13 484 12 818 5 12 296 4 US 14 342 13 789 4 11 864 16 Asia/Africa/Australasia 8 718 8 458 3 8 097 4 Canada and Latin America 2 469 2 649 – 7 2 635 1 Total 39 013 37 714 3 34 892 8 Of which in Established Markets 29 643 28 573 4 26 258 9 Of which in Emerging Growth Markets 9 370 9 141 3 8 634 6 Sandoz Europe 5 231 5 115 2 4 963 3 US 2 142 2 491 – 14 2 754 – 10 Asia/Africa/Australasia 1 501 1 341 12 1 363 – 2 Canada and Latin America 772 784 – 2 779 1 Total 9 646 9 731 – 1 9 859 – 1 Of which in Established Markets 7 089 7 111 0 7 233 – 2 Of which in Emerging Growth Markets 2 557 2 620 – 2 2 626 0 Group Europe 18 715 17 933 4 17 259 4 US 16 484 16 280 1 14 618 11 Asia/Africa/Australasia 10 219 9 799 4 9 460 4 Canada and Latin America 3 241 3 433 – 6 3 414 1 Total 48 659 47 445 3 44 751 6 Of which in Established Markets 36 732 35 684 3 33 491 7 Of which in Emerging Growth Markets 11 927 11 761 1 11 260 4 1 Innovative Medicines Division net sales by business franchise Change Change Oncology Tasigna 1 958 1 880 4 1 874 0 Promacta/Revolade 1 738 1 416 23 1 174 21 Tafinlar Mekinist 1 542 1 338 15 1 155 16 Sandostatin 1 439 1 585 – 9 1 587 0 Jakavi 1 339 1 114 20 977 14 Gleevec/Glivec 1 188 1 263 – 6 1 561 – 19 Afinitor/Votubia 1 083 1 539 – 30 1 556 – 1 Kisqali 687 480 43 235 104 Exjade/Jadenu 653 975 – 33 1 099 – 11 Votrient 635 755 – 16 828 – 9 Kymriah 474 278 71 76 nm Lutathera 445 441 1 167 164 Piqray 320 116 176 nm Adakveo 105 1 nm nm Tabrecta 35 nm nm Other 1 070 1 189 – 10 1 139 4 Total Novartis Oncology business unit 14 711 14 370 2 13 428 7 Immunology, Hepatology and Dermatology Cosentyx 3 995 3 551 13 2 837 25 Ilaris 873 671 30 554 21 Other 1 nm Total Immunology, Hepatology and Dermatology 4 868 4 222 15 3 392 24 Ophthalmology Lucentis 1 933 2 086 – 7 2 046 2 Xiidra 376 192 96 nm Beovu 190 35 nm nm Other 1 911 2 463 – 22 1 995 23 Total Ophthalmology 4 410 4 776 – 8 4 558 5 Neuroscience Gilenya 3 003 3 223 – 7 3 341 – 4 Zolgensma 920 361 155 nm Mayzent 170 26 nm nm Aimovig 164 103 59 8 nm Kesimpta 15 nm nm Other 51 60 – 15 80 – 25 Total Neuroscience 4 323 3 773 15 3 429 10 Change Change Cardiovascular, Renal and Metabolism Entresto 2 497 1 726 45 1 028 68 Other 1 24 – 96 22 9 Total Cardiovascular, Renal and Metabolism 2 498 1 750 43 1 050 67 Respiratory Xolair 1 1 251 1 173 7 1 039 13 Ultibro 623 630 – 1 703 – 10 Other 26 22 18 25 – 12 Total Respiratory 1 900 1 825 4 1 767 3 Established Medicines Galvus 1 199 1 297 – 8 1 284 1 Diovan 1 003 1 064 – 6 1 023 4 Exforge 980 1 025 – 4 1 002 2 Zortress/Certican 452 485 – 7 464 5 Neoral/Sandimmun(e) 393 419 – 6 463 – 10 Voltaren/Cataflam 360 417 – 14 445 – 6 Other 1 916 2 291 – 16 2 587 – 11 Total Established Medicines 6 303 6 998 – 10 7 268 – 4 Total Novartis Pharmaceuticals business unit 24 302 23 344 4 21 464 9 Total division net sales 39 013 37 714 3 34 892 8 1 Xolair nm = not meaningful Top 20 Innovative Medicines Division product net sales – 2020 Rest of Psoriasis, ankylosing Gilenya Neuroscience Relapsing multiple sclerosis 1 562 1 441 3 003 Cardiovascular, Renal Tasigna Oncology Chronic myeloid leukemia 859 1 099 1 958 Lucentis Ophthalmology Age-related macular degeneration 1 933 1 933 Immune thrombocytopenia (ITP), Tafinlar Mekinist BRAF V600+ metastatic and Sandostatin Oncology Carcinoid tumors and acromegaly 837 602 1 439 Myelofibrosis (MF), 1 Severe allergic asthma (SAA) Galvus Established Medicines Type 2 diabetes 1 199 1 199 Gleevec/Glivec Oncology Chronic myeloid leukemia and GIST 315 873 1 188 Afinitor/Votubia Oncology Breast cancer/TSC 644 439 1 083 Diovan Established Medicines Hypertension 124 879 1 003 Exforge Established Medicines Hypertension 16 964 980 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 459 461 920 Auto-inflammatory (CAPS, Kisqali Oncology HR+/HER2- metastatic breast cancer 318 369 687 Exjade/Jadenu Oncology Chronic iron overload 138 515 653 Votrient Oncology Renal cell carcinoma 259 376 635 Top 20 products total 11 126 18 790 29 916 Rest of portfolio 3 216 5 881 9 097 Total division sales 14 342 24 671 39 013 1 Xolair Top 20 Innovative Medicines Division product net sales – 2019 Rest of Immunology, Hepatology Psoriasis, ankylosing Gilenya Neuroscience Relapsing multiple sclerosis 1 736 1 487 3 223 Lucentis Ophthalmology Age-related macular degeneration 2 086 2 086 Tasigna Oncology Chronic myeloid leukemia 804 1 076 1 880 Cardiovascular, Renal Sandostatin Oncology Carcinoid tumors and acromegaly 881 704 1 585 Afinitor/Votubia Oncology Breast cancer/TSC 1 003 536 1 539 Immune thrombocytopenia (ITP), Tafinlar Mekinist BRAF V600+ metastatic and Galvus Established Medicines Type 2 diabetes 1 297 1 297 Gleevec/Glivec Oncology Chronic myeloid leukemia and GIST 334 929 1 263 1 Severe allergic asthma (SAA) Myelofibrosis (MF), Diovan Established Medicines Hypertension 86 978 1 064 Exforge Established Medicines Hypertension 13 1 012 1 025 Exjade/Jadenu Oncology Chronic iron overload 450 525 975 Votrient Oncology Renal cell carcinoma 332 423 755 Auto-inflammatory (CAPS, Zortress/Certican Established Medicines Transplantation 169 316 485 Kisqali Oncology HR+/HER2- metastatic breast cancer 250 230 480 Top 20 products total 10 679 17 967 28 646 Rest of portfolio 3 110 5 958 9 068 Total division sales 13 789 23 925 37 714 1 Xolair Top 20 Innovative Medicines Division product net sales – 2018 Rest of Gilenya Neuroscience Relapsing multiple sclerosis 1 765 1 576 3 341 Immunology, Hepatology Psoriasis, ankylosing Lucentis Ophthalmology Age-related macular degeneration 2 046 2 046 Tasigna Oncology Chronic myeloid leukemia 806 1 068 1 874 Sandostatin Oncology Carcinoid tumors and acromegaly 817 770 1 587 Gleevec/Glivec Oncology Chronic myeloid leukemia and GIST 440 1 121 1 561 Afinitor/Votubia Oncology Breast cancer/TSC 929 627 1 556 Galvus Established Medicines Type 2 diabetes 1 284 1 284 Immune thrombocytopenia (ITP), Tafinlar Mekinist BRAF V600+ metastatic and Exjade/Jadenu Oncology Chronic iron overload 521 578 1 099 1 Severe allergic asthma (SAA) Cardiovascular, Renal Diovan Established Medicines Hypertension 84 939 1 023 Exforge Established Medicines Hypertension 19 983 1 002 Myelofibrosis (MF), Votrient Oncology Renal cell carcinoma 404 424 828 Auto-inflammatory (CAPS, Reduction of elevated intraocular Zortress/Certican Established Medicines Transplantation 145 319 464 Top 20 products total 9 654 17 292 26 946 Rest of portfolio 2 210 5 736 7 946 Total division sales 11 864 23 028 34 892 1 Xolair Sandoz Division net sales by business franchise Change Change Retail Generics 1 7 244 7 590 – 5 7 880 – 4 Biopharmaceuticals 1 928 1 607 20 1 436 12 Anti-Infectives 474 534 – 11 543 – 2 Total division net sales 9 646 9 731 – 1 9 859 – 1 1 The product portfolio of Sandoz is widely spread in 2020, 2019 and 2018. Segmentation – other revenue Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2020 2019 2020 2019 2020 2019 2020 2019 Profit-sharing income 835 732 2 835 734 Royalty income 107 104 25 19 168 24 300 147 Milestone income 39 201 11 30 50 231 Other 1 37 55 17 12 54 67 Total other revenues 1 018 1 092 53 63 168 24 1 239 1 179 1 Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2019 2018 2019 2018 2019 2018 2019 2018 Profit-sharing income 732 874 2 3 734 877 Royalty income 104 162 19 10 24 16 147 188 Milestone income 201 128 30 45 231 173 Other 1 55 24 12 4 67 28 Total other revenues 1 092 1 188 63 62 24 16 1 179 1 266 1 |
Associated companies
Associated companies | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of associates [abstract] | |
Associated companies | 4. Associated companies Net income statement effect Other comprehensive income effect Total comprehensive income effect (USD millions) 2020 2019 2018 2020 2019 2018 1 2020 2019 2018 Roche Holding AG, Switzerland 677 662 526 – 56 – 94 75 621 568 601 GlaxoSmithKline Consumer Others – 4 – 3 2 – 4 – 3 2 Associated companies related to continuing operations 673 659 6 438 – 56 – 94 – 482 617 565 5 956 1 Novartis has a significant investment in Roche Holding AG, Basel (Roche), as well as certain other smaller investments that are accounted for as associated companies. The investment in GlaxoSmithKline Consumer Healthcare Holdings Ltd., Brentford, Middlesex, UK, was divested on June 1, 2018, to GlaxoSmithKline plc, Great Britain. Balance sheet value December 31, December 31, Roche Holding AG, Switzerland 9 407 8 445 Others 225 199 Total 9 632 8 644 Roche Holding AG The Group’s holding in Roche voting shares was 33.3% at December 31, 2020, 2019 and 2018. This investment represents approximately 6.2% of Roche’s total outstanding voting and non-voting equity instruments at December 31, 2020, 2019 and 2018. Since full-year 2020 financial data for Roche is not available when Novartis produces its consolidated financial results, a survey of analyst estimates is used to estimate the Group’s share of Roche’s net income. Any differences between these estimates and actual results will be adjusted in the Group’s 2021 consolidated financial statements when available. The following tables show summarized financial information for Roche, including current values of fair value adjustments made at the time of the acquisition of the shares, for the year ended December 31, 2019, and for the six months ended June 30, 2020 (since full-year 2020 data is not yet available): Non-current Current Non-current December 31, 2019 31.3 56.4 24.1 23.1 June 30, 2020 27.7 55.7 22.5 23.1 Other Total December 31, 2019 63.8 12.3 – 0.9 11.4 June 30, 2020 30.4 7.2 – 0.7 6.5 A purchase price allocation was performed on the basis of publicly available information at the time of acquisition of the investment. The December 31, 2020, balance sheet value allocation is as follows: December 31, Novartis share of Roche’s estimated net assets 2 585 Novartis share of reappraised intangible assets 117 Implicit Novartis goodwill 3 233 Current value of share in net identifiable assets Accumulated equity accounting adjustments and translation effects less dividends received 3 472 Balance sheet value 9 407 The identified intangible assets principally relate to the value of currently marketed products and are amortized on a straight-line basis over their estimated average useful life of 20 years. In 2020, dividends received from Roche in relation to the distribution of its 2019 net income amounted to USD 487 million (2019: USD 460 million in relation to the distribution of its 2018 net income). The consolidated income statement effects from applying Novartis accounting principles for this investment in 2020, 2019 and 2018 are as follows: (USD millions) 2020 2019 2018 Novartis share of Roche's Prior-year adjustment – 64 – 129 – 125 Amortization of fair value Partial release of deferred tax liability recognized 43 Net income effect 677 662 526 The publicly quoted market value of the Novartis interest in Roche (SIX symbol: RO) at December 31, 2020, was USD 18.8 billion (2019: USD 16.9 billion). GlaxoSmithKline Consumer Healthcare Holdings Ltd. On March 27, 2018, Novartis entered into an agreement with GlaxoSmithKline plc, Great Britain (GSK), to divest its 36.5% stake in GSK Consumer Healthcare Holdings Ltd. (GSK Consumer Healthcare) to GSK for USD 13.0 billion in cash. As a result, Novartis discontinued the use of equity method accounting starting from April 1, 2018. The divestment transaction closed on June 1, 2018, and Novartis realized a pre-tax gain of USD 5.8 billion, recorded in income from associated companies. See Note 2. GSK Consumer Healthcare was formed in March 2015 via contribution of businesses from both Novartis and GSK. Until June 1, 2018, Novartis had a 36.5% interest in GSK Consumer Healthcare and had four of 11 seats on the GSK Consumer Healthcare board of directors. Furthermore, Novartis had customary minority rights as well as exit rights at a predefined, market-based pricing mechanism. The consolidated income statement effects from applying Novartis accounting principles for this investment in 2018 are as follows: (USD millions) 2018 Novartis share of Prior-year adjustment 4 Amortization of fair value Pre-tax gain on divestment of GSK Consumer Healthcare 5 790 Net income effect 5 910 |
Interest expense and other fina
Interest expense and other financial income and expense | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Interest Expense and Other Financial Income and Expense [abstract] | |
Interest expense and other financial income and expense | 5. Interest expense and other financial income and expense Interest expense (USD millions) 2020 2019 2018 Interest expense – 708 – 714 – 877 Interest expense on lease liabilities – 67 – 66 Expense arising from discounting long-term liabilities and capitalized borrowing costs – 94 – 70 – 55 Total interest expense from continuing operations – 869 – 850 – 932 Other financial income and expense (USD millions) 2020 2019 2018 Interest income 91 245 292 Other financial income 18 12 1 Financial expense – 52 – 52 – 39 Currency result, net – 135 – 160 – 68 Total other financial income and expense from continuing operations – 78 45 186 |
Taxes
Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of IncomeTax [abstract] | |
Taxes | 6. Taxes Income before taxes (USD millions) 2020 2019 2018 Switzerland 9 786 8 097 11 887 Foreign 92 843 2 208 Income before taxes from continuing operations 9 878 8 940 14 095 Current and deferred income tax expense (USD millions) 2020 2019 2018 Switzerland – 932 – 1 186 – 615 Foreign – 1 168 – 961 – 988 Current income tax expense – 2 100 – 2 147 – 1 603 Switzerland – 137 – 93 – 120 Foreign 430 447 428 Deferred tax income 293 354 308 Income tax expense from continuing operations – 1 807 – 1 793 – 1 295 Analysis of tax rate Novartis has a substantial business presence in many countries and is therefore subject to different income and expense items that are non-taxable (permanent differences) or are taxed at different rates in those tax jurisdictions. This results in a difference between our applicable tax rate and effective tax rate. The main elements contributing to the difference between the Group’s overall applicable tax rate (which can change each year since it is calculated as the weighted average tax rate based on the pre-tax income of each subsidiary) and the effective tax rate are shown in the following table: (As a percentage) 2020 2019 2018 Applicable tax rate 13.6 11.7 14.3 Effect of disallowed expenditures 4.6 4.8 1.7 Effect of utilization of tax losses Effect of income taxed at reduced rates – 0.3 – 0.7 – 0.4 Effect of income not subject to tax 1 – 0.7 0.0 – 3.7 Effect of tax credits and allowances – 2.3 – 2.3 – 2.3 Effect of release of Effect of tax rate change 2 Effect of write-off of deferred tax assets 3 0.2 4.0 0.2 Effect of write-down and reversal of Effect of prior-year items 2.3 2.2 – 0.5 Effect of other items 4 1.9 3.0 0.3 Effective tax rate for continuing operations 18.3 20.1 9.2 1 2 3 4 The utilization of tax-loss carry-forwards lowered the tax charge by USD 29 million in 2020, by USD 11 million in 2019, and by USD 19 million in 2018. For the amount of taxes attributable to discontinued operations, see Note 30. |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2020 | |
Earnings per share [abstract] | |
Earnings per share | 7. Earnings per share 2020 2019 2018 Net income attributable to shareholders of Novartis AG (USD millions) - Continuing operations 8 072 7 142 12 797 - Discontinued operations 4 590 – 186 Total 8 072 11 732 12 611 Number of shares (in millions) Weighted average number of shares outstanding used in basic earnings per share 2 277 2 291 2 319 Adjustment for vesting of restricted shares, restricted share units and dilutive shares from options 19 28 25 Weighted average number of shares in diluted earnings per share 2 296 2 319 2 344 Basic earnings per share (USD) - Continuing operations 3.55 3.12 5.52 - Discontinued operations 2.00 – 0.08 Total 3.55 5.12 5.44 Diluted earnings per share (USD) - Continuing operations 3.52 3.08 5.46 - Discontinued operations 1.98 – 0.08 Total 3.52 5.06 5.38 Basic earnings per share (EPS) is calculated by dividing net income attributable to shareholders of Novartis AG by the weighted average number of shares outstanding in a reporting period. This calculation excludes the average number of issued shares purchased by the Group and held as treasury shares. For diluted EPS, the weighted average number of shares outstanding is adjusted to assume the vesting of all restricted shares, restricted share units, and the conversion of all potentially dilutive shares arising from options on Novartis shares that have been issued. No options were excluded from the calculation of diluted EPS in 2020, 2019 or 2018, as all options were dilutive in all years. |
Changes in consolidated stateme
Changes in consolidated statements of comprehensive income | 12 Months Ended |
Dec. 31, 2020 | |
Comprehensive income [abstract] | |
Changes in consolidated statements of comprehensive income | 8. Changes in consolidated statements of comprehensive income The consolidated statements of comprehensive income include the Group’s net income for the year as well as all other valuation adjustments recorded in the Group’s consolidated balance sheet which under IFRS are not recorded in the consolidated income statement. These include fair value adjustments to financial instruments, actuarial gains or losses on defined benefit pension plans, and currency translation effects, net of tax. Total value Value adjustments at December 31, 2017, as previously reported 395 – 5 064 329 – 4 340 – 21 – 4 361 Impact of adoption of IFRS 9 on retained Restated value adjustments at January 1, 2018 218 – 5 064 329 – 4 517 – 21 – 4 538 Fair value adjustments on deferred cash flow Fair value adjustments on equity securities, 1 Net investment hedge 95 95 95 Defined benefit plans, net of taxes Currency translation effects 8.1 320 320 – 5 315 Total value adjustments in 2018 25 – 359 415 81 – 5 76 Fair value adjustments on equity securities sold, reclassified to retained earnings – 16 – 16 – 16 Value adjustments at December 31, 2018 227 – 5 423 744 – 4 452 – 26 – 4 478 Fair value adjustments on deferred cash Fair value adjustments on debt securities 1 1 1 Fair value adjustments on equity securities, 1 Net investment hedge 44 44 44 Defined benefit plans, net of taxes 2 Currency translation effects 8.1 354 354 – 2 352 Total value adjustments in 2019 – 45 – 466 398 – 113 – 3 – 116 Fair value adjustments on equity securities Fair value adjustments related to divestments 33 – 30 3 3 Value adjustments at December 31, 2019 120 – 5 919 1 142 – 4 657 – 29 – 4 686 Fair value adjustments on equity securities, 1 Net investment hedge – 201 – 201 – 201 Defined benefit plans, net of taxes Currency translation effects 8.1 3 193 3 193 1 3 194 Total value adjustments in 2020 250 145 2 992 3 387 – 1 3 386 Fair value adjustments on equity securities Fair value adjustments related to divestments 2 2 2 Impact of change in ownership of consolidated entities – 1 – 1 1 Value adjustments at December 31, 2020 220 – 5 773 4 134 – 1 419 – 29 – 1 448 1 2 8.1) In 2020, no currency translation losses or gains were recycled through the income statement. In 2019, cumulative currency translation gains of USD 129 million were recycled through the income statement mainly as a result of the spin-off of the Alcon business through a dividend in kind distribution to Novartis AG shareholders. See Notes 2 and 30. In 2018, cumulative currency translation losses of USD 946 million were recycled through the income statement as a result of the divestment of the investment in GSK Consumer Healthcare Holdings Ltd. See Notes 2 and 4. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, plant and equipment | 9. Property, plant and equipment The following table summarizes the movements of property, plant and equipment during 2020: Machinery Cost January 1, 2020 512 11 463 1 350 13 674 26 999 Cost of assets reclassified out of assets of 1 Impact of acquisitions of businesses 2 19 5 26 Reclassifications 10 433 – 1 038 595 Additions 7 115 847 296 1 265 Disposals and derecognitions – 23 – 465 – 57 – 1 656 – 2 201 Currency translation effects 36 695 110 956 1 797 December 31, 2020 555 12 377 1 248 14 038 28 218 Accumulated depreciation January 1, 2020 – 20 – 5 124 – 60 – 9 726 – 14 930 Accumulated depreciation on assets reclassified out of assets of 1 Accumulated depreciation on disposals and derecognitions 17 433 11 1 543 2 004 Depreciation charge 2 – 491 – 827 – 1 318 Impairment charge – 15 – 194 – 10 – 228 – 447 Reversal of impairment charge 7 7 Currency translation effects – 1 – 373 – 3 – 731 – 1 108 December 31, 2020 – 19 – 5 807 – 66 – 10 063 – 15 955 Net book value at December 31, 2020 536 6 570 1 182 3 975 12 263 Commitments for purchases of property, plant and equipment 256 Capitalized borrowing costs 2 1 2 The following table summarizes the movements of property, plant and equipment during 2019: Machinery Cost January 1, 2019 696 14 135 2 042 17 155 34 028 Cost of assets related to discontinued operations 1 – 61 – 1 615 – 655 – 2 678 – 5 009 Reclassification to right-of-use assets 2 – 122 – 3 – 2 – 127 Cost of assets related to disposal group held for sale 3 – 3 – 12 – 8 – 23 Impact of acquisitions of businesses 10 24 1 9 44 Reclassifications 57 332 – 1 019 630 Additions 6 112 1 001 355 1 474 Disposals and derecognitions – 75 – 1 551 – 9 – 1 774 – 3 409 Currency translation effects 1 32 1 – 13 21 December 31, 2019 512 11 463 1 350 13 674 26 999 Accumulated depreciation January 1, 2019 – 43 – 6 328 – 37 – 11 924 – 18 332 Accumulated depreciation on assets related to discontinued operations 1 8 562 7 1 541 2 118 Reclassification to right-of-use assets 2 26 26 Accumulated depreciation on assets related to disposal group held for sale 3 2 2 Accumulated depreciation on disposals and derecognitions 1 170 2 1 674 2 846 Depreciation charge 4 – 447 – 898 – 1 345 Impairment charge 5 – 10 – 51 – 34 – 110 – 205 Reversal of impairment charge 1 2 3 Currency translation effects – 1 – 33 – 9 – 43 December 31, 2019 – 20 – 5 124 – 60 – 9 726 – 14 930 Net book value at December 31, 2019 492 6 339 1 290 3 948 12 069 Commitments for purchases of property, plant and equipment 220 Capitalized borrowing costs 4 1 2 3 4 5 |
Right-of-use assets and lease l
Right-of-use assets and lease liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Lease liabilities and Right of use assets Disclosure Abstract | |
Disclosure of leases [text block] | 10. Right-of-use assets and lease liabilities The following table summarizes the movements of the right-of-use assets of continuing operations: (USD millions) 2020 2019 Right-of-use assets at January 1 1 677 1 554 Impact of acquisitions of businesses 32 Additions 346 537 Depreciation charge – 330 – 305 Lease contract terminations 1 – 63 – 98 Impact of divestments – 32 – 17 Currency translation effects 46 6 Total right-of-use assets at December 31 2 1 676 1 677 1 2 The following table shows the right-of-use assets carrying value and depreciation charge of continuing operations at December 31, 2020 and 2019, by underlying class of asset: December 31, Depreciation December 31, Depreciation Land 528 11 537 14 Buildings 963 207 990 194 Vehicles 155 100 129 87 Machinery and equipment, and other assets 30 12 21 10 Total right-of-use assets 1 676 330 1 677 305 The following table shows the lease liabilities of continuing operations by maturity at December 31, 2020 and 2019: Lease liabilities Lease liabilities Less than one year 286 338 246 295 Between one and two years 229 274 202 246 Between two and three years 186 226 163 202 Between three and four years 148 183 138 173 Between four and five years 129 160 119 150 After five years 1 027 2 326 1 081 2 419 Total lease liabilities 2 005 3 507 1 949 3 485 Less current portion of lease liabilities – 286 – 338 – 246 – 295 Non-current portion of lease liabilities 1 719 3 169 1 703 3 190 At December 31, 2020 and December 31, 2019, there were no material future cash outflows, including extension options, excluded from the measurement of lease liabilities. The Group’s most material lease with a lease term extension, representing a lease liability value of USD 0.6 billion (2019: USD 0.6 billion), has a determined lease term end date of 2071 (2019: 2071). In 2019, the Group completed sale and leaseback transactions for certain property, plant and equipment as part of its plans to consolidate sites. Transactions resulted in net cash inflows of USD 0.7 billion and the recognition of USD 96 million of lease liabilities, and USD 37 million of right-of-use assets. The right-of-use assets value reflects the proportion of the property, plant and equipment retained for a period of one to five years, with two five-year extension periods for certain right-of-use assets. The liabilities reflect the net present value of future lease payments. The net gain on the sale and leaseback transactions amounted to USD 478 million. There were no significant sale and leaseback transactions completed in 2020. The following table provides additional disclosures related to right-of-use assets and lease liabilities of continuing operations for 2020 and 2019: (USD millions) 2020 2019 Interest expense on lease liabilities 1 67 66 Expense on short-term leases 4 7 Expense on low-value leases 7 8 Total cash outflows for leases 379 339 Thereof: Cash outflows for short-term leases 2 Payments of interest 3 56 51 Payments of lease liabilities 4 312 273 1 2 3 4 The net investment held and income from subleasing right-of-use assets were not significant for 2020 and 2019. Income from leasing Novartis property, plant and equipment to third parties for both 2020 and 2019 was not significant. Note 30 provides additional disclosures on discontinued operations. |
Goodwill and intangible assets
Goodwill and intangible assets | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of detailed information about intangible assets [abstract] | |
Goodwill and intangible assets | 11. Goodwill and intangible assets The following table summarizes the movements of goodwill and intangible assets in 2020: Goodwill Intangible assets other than goodwill In-process Currently Other Cost January 1, 2020 26 825 7 429 884 43 548 1 558 53 419 Cost of assets reclassified out of assets of 1 Impact of acquisitions of businesses 2 580 8 600 196 218 9 014 Reclassifications 2 – 9 272 – 2 9 274 Additions 3 339 674 412 1 425 Disposals and derecognitions 4 – 421 – 101 – 39 – 11 – 572 Currency translation effects 916 208 58 2 568 205 3 039 December 31, 2020 30 321 6 893 1 115 57 333 2 384 67 725 Accumulated amortization January 1, 2020 – 301 – 2 005 – 721 – 20 969 – 937 – 24 632 Accumulated amortization on assets reclassified 1 Amortization charge 5 – 72 – 3 215 – 175 – 3 462 Accumulated amortization on disposals 4 Impairment charge 6 – 515 – 40 – 338 – 21 – 914 Currency translation effects – 21 – 92 – 46 – 1 267 – 145 – 1 550 December 31, 2020 – 322 – 2 193 – 885 – 26 566 – 1 272 – 30 916 Net book value at December 31, 2020 29 999 4 700 230 30 767 1 112 36 809 1 2 3 4 5 6 The following table summarizes the movements of goodwill and intangible assets in 2019: Goodwill Intangible assets other than goodwill In-process Currently Other Cost January 1, 2019 35 700 16 167 2 980 6 253 35 412 5 960 2 253 69 025 Cost of assets related to 1 Cost of assets related to disposal group 2 Impact of acquisitions of businesses 186 342 3 550 22 3 914 Reclassifications 3 – 9 069 9 069 Additions 4 265 243 259 767 Disposals and derecognitions 5 – 75 – 544 – 436 – 1 055 Currency translation effects – 61 49 254 32 335 December 31, 2019 26 825 7 429 884 43 548 1 558 53 419 Accumulated amortization January 1, 2019 – 406 – 1 120 – 4 758 – 21 218 – 1 906 – 1 304 – 30 306 Accumulated amortization 1 Amortization charge 6 – 42 – 2 657 – 137 – 2 836 Accumulated amortization on disposals 5 Impairment charge 6 – 984 – 105 – 54 – 32 – 1 175 Reversal of impairment charge 37 37 Currency translation effects 4 – 11 – 126 – 11 – 148 December 31, 2019 – 301 – 2 005 – 721 – 20 969 – 937 – 24 632 Net book value at December 31, 2019 26 524 5 424 163 22 579 621 28 787 1 2 3 4 5 6 The following table summarizes the allocation of the net book values of goodwill and intangible assets by reporting segment at December 31, 2020: Goodwill Intangible assets other than goodwill In-process Currently Other Innovative Medicines 21 718 4 548 3 29 645 925 35 121 Sandoz 8 274 152 227 1 122 42 1 543 Corporate 7 145 145 Net book value at December 31, 2020 29 999 4 700 230 30 767 1 112 36 809 The following table summarizes the allocation of the net book values of goodwill and intangible assets by reporting segment at December 31, 2019: Goodwill Intangible assets other than goodwill In-process Currently Other Innovative Medicines 18 750 5 339 7 21 720 520 27 586 Sandoz 7 767 85 156 859 25 1 125 Corporate 7 76 76 Net book value at December 31, 2019 26 524 5 424 163 22 579 621 28 787 The Innovative Medicines and Sandoz Divisions’ cash-generating units, to which goodwill is allocated, each comprise a group of smaller cash-generating units. The valuation method of the recoverable amount of the cash-generating units, to which goodwill is allocated, is based on the fair value less costs of disposal. The following assumptions are used in the calculations: Innovative Terminal growth rate 1.5 1.5 Discount rate (post-tax) 6.5 6.5 The discount rates for all divisions consider the Group’s weighted average cost of capital, adjusted to approximate the weighted average cost of capital of a comparable market participant. The fair value less costs of disposal, for all cash-generating units containing goodwill, is reviewed for the impact of reasonably possible changes in key assumptions. In particular, we considered an increase in the discount rate, a decrease in the terminal growth rate, and certain negative impacts on the forecasted cash flows. These reasonably possible changes in key assumptions did not indicate an impairment. “Note 1. Significant accounting policies—Impairment of goodwill and intangible assets” provides additional disclosures on how the Group performs goodwill and intangible asset impairment testing. The following table shows the intangible asset and goodwill impairment charges for continuing operations for 2020, 2019 and 2018: (USD millions) 2020 2019 2018 Innovative Medicines 1 – 768 – 669 – 592 Sandoz 2 – 141 – 506 – 249 Corporate – 5 Total – 914 – 1 175 – 841 1 Votrient Votrient 2 In 2020, there were no reversals of prior-year impairment charges (2019: USD 37 million; 2018: nil). Note 30 provides additional disclosures on discontinued operations. |
Deferred tax assets and liabili
Deferred tax assets and liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Deferred Tax Assets and Liabilities [abstract] | |
Deferred tax assets and liablities | 12. Deferred tax assets and liabilities Pensions and Gross deferred tax assets at January 1, 2020 108 1 469 1 078 2 446 255 2 596 7 952 Gross deferred tax liabilities at January 1, 2020 – 390 – 3 610 – 291 – 287 – 7 – 1 325 – 5 910 Net deferred tax balance at January 1, 2020 – 282 – 2 141 787 2 159 248 1 271 2 042 At January 1, 2020 – 282 – 2 141 787 2 159 248 1 271 2 042 Credited/(charged) to income 89 110 – 25 212 – 164 71 293 Charged to equity 9 9 Charged to other comprehensive income – 3 – 36 – 39 Impact of acquisitions of businesses 5 – 1 945 – 3 408 34 – 1 501 Other movements – 53 58 38 – 25 5 – 35 – 12 Net deferred tax balance at December 31, 2020 – 241 – 3 918 797 2 343 497 1 314 792 Gross deferred tax assets at December 31, 2020 189 1 351 1 137 2 502 507 2 658 8 344 Gross deferred tax liabilities at December 31, 2020 – 430 – 5 269 – 340 – 159 – 10 – 1 344 – 7 552 Net deferred tax balance at December 31, 2020 – 241 – 3 918 797 2 343 497 1 314 792 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 130 Deferred tax assets at December 31, 2020 8 214 Deferred tax liabilities at December 31, 2020 – 7 422 Net deferred tax balance at December 31, 2020 792 Gross deferred tax assets at January 1, 2019 191 1 233 1 188 3 722 273 2 175 8 782 Gross deferred tax liabilities at January 1, 2019 – 622 – 5 384 – 273 – 474 – 805 – 7 558 Net deferred tax balance at January 1, 2019 – 431 – 4 151 915 3 248 273 1 370 1 224 At January 1, 2019 – 431 – 4 151 915 3 248 273 1 370 1 224 Net deferred tax balance related to discontinued operations 1 82 1 403 – 123 – 248 – 39 – 217 858 Credited/(charged) to income 74 605 308 – 818 – 113 298 354 Charged to equity 8 75 – 166 – 83 Charged to other comprehensive income – 313 24 – 289 Impact of acquisitions of businesses 3 – 45 21 – 26 – 47 Other movements – 10 39 – 23 31 – 12 25 Net deferred tax balance at December 31, 2019 – 282 – 2 141 787 2 159 248 1 271 2 042 Gross deferred tax assets at December 31, 2019 108 1 469 1 078 2 446 255 2 596 7 952 Gross deferred tax liabilities at December 31, 2019 – 390 – 3 610 – 291 – 287 – 7 – 1 325 – 5 910 Net deferred tax balance at December 31, 2019 – 282 – 2 141 787 2 159 248 1 271 2 042 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 43 Deferred tax assets at December 31, 2019 7 909 Deferred tax liabilities at December 31, 2019 – 5 867 Net deferred tax balance at December 31, 2019 2 042 1 The following table presents deferred tax assets and deferred tax liabilities, which are expected to have an impact on current taxes payable after more than 12 months: (USD billions) 2020 2019 Expected to have an impact on current tax payable after more than 12 months – Deferred tax assets 4.5 4.3 – Deferred tax liabilities 7.0 5.2 Deferred tax liabilities have not been recognized for the withholding tax and other taxes that would be payable on the remittance of earnings of foreign subsidiaries, as the Group has the ability to control any future reversal and the unremitted earnings are retained in the foreign subsidiaries for reinvestment. The total unremitted earnings retained for reinvestment in the Group’s foreign subsidiaries that would be subject to withholding tax or other taxes if remitted to the Group are estimated at approximately USD 27 billion in 2020 (2019: USD 26 billion). Temporary differences on which no deferred tax has been provided as they are permanent in nature related to: (USD billions) 2020 2019 Investments in subsidiaries 5 3 Goodwill from acquisitions – 27 – 24 The gross value of tax-loss carry-forwards that have or have not been capitalized as deferred tax assets, with their expiry dates, is as follows: (USD millions) Not capitalized Capitalized 2020 total One year 20 20 Two years 1 5 6 Three years 2 6 8 Four years 23 23 Five years 11 40 51 More than five years 1 3 400 2 291 5 691 Not subject to expiry 323 683 1 006 Total 3 780 3 025 6 805 1 (USD millions) Not capitalized Capitalized 2019 total One year 14 0 14 Two years 28 0 28 Three years 28 6 34 Four years 16 46 62 Five years 127 37 164 More than five years 125 2 214 2 339 Not subject to expiry 310 35 345 Total 648 2 338 2 986 (USD millions) 2020 2019 2018 Tax losses carried forward Deferred tax assets related to taxable losses of relevant Group entities are recognized to the extent it is considered probable that future taxable profits will be available against which such losses can be utilized in the foreseeable future. The Basel-Stadt cantonal tax reform was approved by voters in February 2019, with parts of the reform retroactively enacted per January 1, 2019. The newly enacted tax rate resulted in a decrease of the blended cantonal and federal tax rate from 22% to 13%. This change impacted the Group’s Basel-Stadt-domiciled operating subsidiaries. The Swiss federal tax reform was approved by voters in May 2019. The enactment of the Swiss federal tax reform required the abolishment of the holding company tax regimes as of January 1, 2020. As a result, the holding company tax rate increased from the current 8% to 13%, effective January 1, 2020. The enactment of these Swiss tax reforms required a revaluation of the deferred tax assets and liabilities to the newly enacted tax rates at the date of enactment. The following table shows the impact on the revaluation of deferred assets and liabilities in 2019, as at the respective dates of the enactment of the Swiss tax reforms: Income Deferred tax asset Items previously recognized Items previously recognized in other comprehensive income 1 – 358 – 358 Total revaluation of deferred tax assets and liabilities 234 – 358 – 124 1 |
Financial and other non-current
Financial and other non-current assets | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of financial and other non-current assets [abstract] | |
Financial and other non-current assets | 13. Financial and other non-current assets Financial assets (USD millions) 2020 2019 Equity securities 1 577 1 524 Debt securities 36 33 Fund investments 366 233 Total financial investments 1 979 1 790 Long-term receivables from finance subleases 83 66 Other long-term receivables 125 104 Contingent consideration receivables 1 625 399 Long-term loans, advances and security deposits 89 159 Total financial assets 2 901 2 518 1 Other non-current assets (USD millions) 2020 2019 Deferred compensation plans 471 414 Prepaid post-employment benefit plans 202 148 Other non-current assets 219 176 Total other non-current assets 892 738 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2020 | |
Inventories Disclosure [abstract] | |
Inventories | 14. Inventories (USD millions) 2020 2019 Raw material, consumables 967 751 Work in progress 3 324 3 024 Finished products 2 840 2 207 Total inventories 7 131 5 982 The following table shows the amount of inventory recognized as an expense in “Cost of goods sold” in the consolidated income statements from continuing operations: (USD billions) 2020 2019 2018 Cost of goods sold – 8.5 – 8.5 – 8.3 The following table shows the recognized amount of inventory provision and reversals of inventory provision recorded in the consolidated income statements from continuing operations: (USD millions) 2020 2019 2018 Inventory provisions – 702 – 752 – 603 Reversals of inventory provisions 255 218 216 The reversals mainly result from the release of products initially requiring additional quality control inspections and from the reassessment of inventory values manufactured prior to regulatory approval but for which approval was subsequently received. |
Trade receivables
Trade receivables | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of trade receivables [abstract] | |
Trade receivables | 15. Trade receivables (USD millions) 2020 2019 Total gross trade receivables 8 310 8 396 Provisions for doubtful trade receivables – 93 – 95 Total trade receivables, net 8 217 8 301 The following table summarizes the movement in the provision for doubtful trade receivables: (USD millions) 2020 2019 2018 January 1 – 95 – 126 – 190 Provisions related to discontinued operations 1 54 Impact of acquisitions of businesses – 1 Provisions for doubtful trade receivables charged to the consolidated income statement 2 – 59 – 89 – 47 Utilization of provisions for doubtful trade receivables 13 12 39 Reversal of provisions for doubtful trade receivables credited to the consolidated income statement 3 53 53 61 Currency translation effects – 5 1 12 December 31 – 93 – 95 – 126 1 2 3 The following table shows the trade receivables that are not overdue as specified in the payment terms and conditions established with Novartis customers, as well as an analysis of overdue amounts and related provisions for doubtful trade receivables: (USD millions) 2020 2019 Not overdue 7 714 7 763 Past due for not more than one month 150 161 Past due for more than one month Past due for more than three months Past due for more than six months Past due for more than one year 149 150 Provisions for doubtful trade receivables – 93 – 95 Total trade receivables, net 8 217 8 301 Trade receivable balances represent amounts due from our customers, which are mainly drug wholesalers, retailers, private health systems, government agencies, managed care providers, pharmacy benefit managers and government-supported healthcare systems. Novartis continues to monitor sovereign debt issues and economic conditions in the countries in which it operates, particularly in Argentina, Brazil, Greece, Italy, Portugal, Russia, Saudi Arabia, Spain and Turkey, and evaluates trade receivables in these countries for potential collection risks. The majority of the outstanding trade receivables from Portugal, Saudi Arabia, Spain and Greece are due directly from local governments or from government-funded entities. Deteriorating credit and economic conditions as well as other factors in these closely monitored countries have resulted in, and may continue to result in, an increase in the average length of time that it takes to collect these trade receivables, and may require the Group to re-evaluate the expected credit loss amount of these trade receivables in future periods. The following table shows the gross trade receivables balance from these closely monitored countries at December 31, 2020 and 2019; the amounts that are past due for more than one year; and the related provisions that have been recorded: (USD millions) 2020 2019 Total balance of gross trade Past due for more than one year 55 61 Provisions 27 24 At December 31, 2020, amounts past due for more than one year are not significant in any of these countries on a standalone basis. Total trade receivables include amounts denominated in the following major currencies: (USD millions) 2020 2019 US dollar (USD) 3 311 3 466 Euro (EUR) 1 668 1 384 Japanese yen (JPY) 437 466 Russian ruble (RUB) 288 341 Chinese yuan (CNY) 208 279 British pound (GBP) 191 202 Australian dollar (AUD) 153 125 Brazilian real (BRL) 148 165 Canadian dollar (CAD) 125 129 Swiss franc (CHF) 124 89 Other currencies 1 564 1 655 Total trade receivables, net 8 217 8 301 |
Marketable securities, commodit
Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of marketable securities commodities deposits derivative instruments and cash [abstract] | |
Disclosure of marketable securities commodities deposits derivative instruments and cash | 16. Marketable securities, commodities, time deposits, derivative financial instruments, and cash and cash equivalents Marketable securities, commodities, time deposits and derivative financial instruments (USD millions) 2020 2019 Marketable securities 26 61 Commodities 111 110 Time deposits and short-term investments with original maturity more than 90 days 1 609 61 Derivative financial instruments 159 102 Total marketable securities, commodities, time deposits and derivative financial instruments 1 905 334 Cash and cash equivalents (USD millions) 2020 2019 Current accounts 3 750 3 247 Time deposits and short-term investments with original maturity less than 90 days 5 908 7 865 Total cash and cash equivalents 9 658 11 112 |
Other current assets
Other current assets | 12 Months Ended |
Dec. 31, 2020 | |
Other current assets [abstract] | |
Other current assets | 17. Other current assets (USD millions) 2020 2019 VAT receivable 544 508 Withholding tax recoverable 73 108 Prepaid expenses 943 898 Receivables from associated companies 1 Other receivables and current assets 963 1 165 Total other current assets 2 523 2 680 |
Equity
Equity | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of equity [abstract] | |
Equity | 18. Equity The following table shows the movement in the share capital: Movement Movement Movement Share capital 969 – 25 944 – 8 936 – 23 913 Treasury shares – 100 31 – 69 – 11 – 80 27 – 53 Outstanding share capital 869 6 875 – 19 856 4 860 The following table shows the movement in the shares: 2020 2019 2018 Total Total 1 Total Total Total 1 Total Total Total 1 Total Balance at beginning of year 2 527.3 – 262.3 2 265.0 2 550.6 – 239.4 2 311.2 2 616.8 – 299.3 2 317.5 Shares canceled for capital 2 Shares acquired to be 3 Other share purchases 4 – 1.7 – 1.7 – 1.7 – 1.7 – 1.2 – 1.2 Exercise of options 5 Equity-based compensation 5 11.0 11.0 9.4 9.4 7.4 7.4 Shares delivered to Alcon Other share sales 3.0 3.0 Total movements – 60.3 52.1 – 8.2 – 23.3 – 22.9 – 46.2 – 66.2 59.9 – 6.3 Balance at end of year 2 467.0 – 210.2 2 256.8 2 527.3 – 262.3 2 265.0 2 550.6 – 239.4 2 311.2 1 2 3 4 5 18.1) The amount available for distribution as a dividend to shareholders is based on the available distributable retained earnings of Novartis AG determined in accordance with the legal provisions of the Swiss Code of Obligations. 2020 2019 2018 Dividend per share (in CHF) 2.95 2.85 2.80 Total dividend payment 18.2) The following table summarizes the treasury shares movements: 2020 2019 2018 Number of Number of Number of Shares acquired to be canceled 1 – 32.6 – 2 897 – 60.3 – 5 351 – 23.3 – 1 859 Other share purchases 2 – 1.7 – 159 – 1.7 – 160 – 1.2 – 114 Purchase of treasury shares – 34.3 – 3 056 – 62.0 – 5 511 – 24.5 – 1 973 Exercise of options and employee transactions 3 18.9 14.7 806 5.5 210 7.8 434 Equity-based compensation 4 11.0 730 9.4 833 7.4 756 Shares delivered to Alcon employees 0.4 30 0.9 18 Other share sales 3.0 263 Total – 8.2 – 1 490 – 46.2 – 4 450 – 6.3 – 520 1 2 3 4 18.3) In November 2020, Novartis entered into an irrevocable, non-discretionary arrangement with a bank to repurchase Novartis shares on the second trading line under its up-to USD 2.5 billion share buyback. Novartis is able to cancel this arrangement at any time but could be subject to a 90-day waiting period. The commitment under this arrangement therefore reflects the obligated purchases by the bank under such trading plan over a rolling 90-day period, or if shorter, until the maturity date of such trading plan. The commitment under this arrangement amounted to USD 1.8 billion as of December 31, 2020. In August 2020, Novartis entered into an irrevocable, non-discretionary arrangement with a bank to repurchase Novartis shares to mitigate dilution related to participation plans of associates. Novartis was able to cancel this arrangement at any time but would have been subjected to a 90-day waiting period. This trading plan commitment was fully executed and expired, and as a consequence, there is no contingent liability related to this plan recognized as of December 31, 2020. In 2019, Novartis entered into a similar irrevocable, non-discretionary arrangement with a bank to repurchase Novartis shares on the second trading line under its up-to USD 5 billion share buyback and to repurchase Novartis shares to mitigate dilution related to participation plans of associates. The commitment under this arrangement therefore reflects the obligated purchases by the bank under such trading plan over a rolling 90-day period, or if shorter, until the maturity date of such trading plan. The trading plan commitment was fully executed and expired, and as a consequence, there is no contingent liability related to this plan recognized as of December 31, 2019. In 2018, Novartis entered into a similar irrevocable, non-discretionary arrangements with a bank to repurchase Novartis shares. The commitments under this arrangement reflected the expected purchases by the bank under such trading plan over a rolling 90-day period. The commitment under this arrangement amounted to USD 284 million as of December 31, 2018. 18.4) In October 2020, Novartis entered into an agreement with the market maker for its employee options to repurchase a portion of the outstanding written call options. A total of 3.7 million options were repurchased under this agreement. This agreement was terminated in November 2020. 18.5) The impact of change in ownership of consolidated entities represents the excess of the amount paid to non-controlling interest over their carrying value and equity allocation to non-controlling interest due to change in ownership percentage. 18.6) Changes in non-controlling interests represent the impact on the non-controlling interest of transactions with minority shareholders, such as change in ownership percentage, dividend payments and other equity transactions. 18.7) Other movements includes, for subsidiaries in hyperinflationary economies, the impact of the restatement of the non-monetary assets and liabilities with the general price index at the beginning of the period as well as the restatement of the equity balances of the current year. In 2020, the amount recorded in equity related to hyperinflation accounting was USD 18 million (2019: USD 22 million; 2018: USD 38 million). See Note 29 for additional disclosures. 18.8) In 2019, transaction costs of USD 253 million (2018: USD 79 million) net of tax of USD 36 million (2018: USD 20 million), that are directly attributable to the distribution (spin-off) of Alcon Inc. to Novartis shareholders and that would otherwise have been avoided, were recorded as a deduction from equity. See Note 1 for further details. No transaction costs were recorded as a deduction from equity in 2020. 18.9) At December 31, 2020, the market maker held 1 million (2019: 13 million; 2018: 11 million) written call options, originally issued as part of the share-based compensation for associates, that have not yet been exercised. The weighted average exercise price of these options is USD 60.09 (2019: USD 63.90; 2018: USD 62.70), and they have contractual lives of 10 years, with remaining lives up to three years (2019: four years; 2018: five years). In December 2018, Novartis entered into an agreement with the market maker for its employee options to repurchase a portion of the outstanding written call options that are not exercised in exchange for treasury shares. During 2019, this agreement was fully executed. |
Non-current financial debt
Non-current financial debt | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of financial liabilities [abstract] | |
Disclosure of financial liabilities [text block] | 19. Non-current financial debt (USD millions) 2020 2019 Straight bonds 28 298 22 167 Liabilities to banks and other financial institutions 1 233 188 Total, including current portion of non-current financial debt 28 531 22 355 Less current portion of non-current financial debt – 2 272 – 2 002 Total non-current financial debt 26 259 20 353 1 All bonds are initially recorded at the amount of proceeds received, net of transaction costs. They are subsequently carried at amortized cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognized as a charge to the consolidated income statement over the period of the relevant bond. Financial debts, including current financial debts, contain only general default covenants. The Group is in compliance with these covenants. The percentage of fixed-rate financial debt to total financial debt was 79% at December 31, 2020, and 82% at December 31, 2019. The average interest rate on total financial debt in 2020 was 2.0% (2019: 2.4%). Note 29 contains a maturity table of the Group’s future contractual interest payments commitments. The following table provides a breakdown of straight bonds: Nominal 2020 2019 4.400% USD 1 000 2010 2020 Novartis Capital Corporation, New York, United States 99.237% 1 000 2.400% USD 1 500 2012 2022 Novartis Capital Corporation, New York, United States 99.225% 1 497 1 495 3.700% USD 500 2012 2042 Novartis Capital Corporation, New York, United States 98.325% 490 489 3.400% USD 2 150 2014 2024 Novartis Capital Corporation, New York, United States 99.287% 2 142 2 139 4.400% USD 1 850 2014 2044 Novartis Capital Corporation, New York, United States 99.196% 1 826 1 825 0.750% EUR 600 2014 2021 Novartis Finance S.A., Luxembourg, Luxembourg 99.134% 737 670 1.625% EUR 600 2014 2026 Novartis Finance S.A., Luxembourg, Luxembourg 99.697% 735 670 0.250% CHF 500 2015 2025 Novartis AG, Basel, Switzerland 100.640% 568 517 0.625% CHF 550 2015 2029 Novartis AG, Basel, Switzerland 100.502% 625 568 1.050% CHF 325 2015 2035 Novartis AG, Basel, Switzerland 100.479% 369 336 3.000% USD 1 750 2015 2025 Novartis Capital Corporation, New York, United States 99.010% 1 737 1 735 4.000% USD 1 250 2015 2045 Novartis Capital Corporation, New York, United States 98.029% 1 220 1 219 0.125% EUR 1 250 2016 2023 Novartis Finance S.A., Luxembourg, Luxembourg 99.127% 1 530 1 392 0.625% EUR 500 2016 2028 Novartis Finance S.A., Luxembourg, Luxembourg 98.480% 607 553 1.800% USD 1 000 2017 2020 Novartis Capital Corporation, New York, United States 99.609% 1 000 2.400% USD 1 000 2017 2022 Novartis Capital Corporation, New York, United States 99.449% 998 996 3.100% USD 1 000 2017 2027 Novartis Capital Corporation, New York, United States 99.109% 992 990 0.000% EUR 1 250 2017 2021 Novartis Finance S.A., Luxembourg, Luxembourg 99.133% 1 536 1 396 1.125% EUR 600 2017 2027 Novartis Finance S.A., Luxembourg, Luxembourg 99.874% 735 670 0.500% EUR 750 2018 2023 Novartis Finance S.A., Luxembourg, Luxembourg 99.655% 919 837 1.375% EUR 750 2018 2030 Novartis Finance S.A., Luxembourg, Luxembourg 99.957% 920 838 1.700% EUR 750 2018 2038 Novartis Finance S.A., Luxembourg, Luxembourg 99.217% 913 832 1.750% USD 1 000 2020 2025 Novartis Capital Corporation, New York, United States 99.852% 996 2.000% USD 1 250 2020 2027 Novartis Capital Corporation, New York, United States 99.909% 1 245 2.200% USD 1 500 2020 2030 Novartis Capital Corporation, New York, United States 99.869% 1 493 2.750% USD 1 250 2020 2050 Novartis Capital Corporation, New York, United States 97.712% 1 213 0.000% 1 EUR 1 850 2020 2028 Novartis Finance S.A., Luxembourg, Luxembourg 99.354% 2 255 Total straight bonds 28 298 22 167 1 The following tables provide a breakdown of total non-current financial debt, including current portion by maturity and currency: Breakdown by maturity: (USD millions) 2020 2019 2020 2 002 2021 2 272 2 067 2022 2 631 2 583 2023 2 546 2 321 2024 2 142 2 139 2025 3 302 2 252 After 2025 15 638 8 991 Total 28 531 22 355 Breakdown by currency: (USD millions) 2020 2019 US dollar (USD) 15 848 12 889 Euro (EUR) 10 888 7 861 Japanese yen (JPY) 194 184 Swiss franc (CHF) 1 563 1 421 Others 38 Total 28 531 22 355 The following table shows the comparison of balance sheet and fair value of total non-current financial debt, including current portion: 2020 2020 2019 2019 Straight bonds 28 298 31 359 22 167 23 701 Others 233 233 188 188 Total 28 531 31 592 22 355 23 889 The fair values of straight bonds are determined by quoted market prices. Other financial debts are recorded at notional amounts, which are a reasonable approximation of the fair values. |
Provisions and other non-curren
Provisions and other non-current liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of detailed information about provisions and non-current liabilities [abstract] | |
Provisions and other non-current liabilities | 20. Provisions and other non-current liabilities (USD millions) 2020 2019 Accrued liability for employee benefits: Defined benefit pension plans 1 3 538 3 469 Other long-term employee benefits and deferred compensation 637 546 Other post-employment benefits 1 543 612 Environmental remediation provisions 642 592 Provisions for product liabilities, governmental investigations and other legal matters 181 200 Contingent consideration 2 984 958 Other non-current liabilities 409 255 Total provisions and other non-current liabilities 6 934 6 632 1 2 Novartis believes that its total provisions are adequate based upon currently available information. However, given the inherent difficulties in estimating liabilities in this area, Novartis may incur additional costs beyond the amounts provided. Management believes that such additional amounts, if any, would not be material to the Group’s financial condition but could be material to the results of operations or cash flows in a given period. Environmental remediation provisions The following table shows the movements in the environmental liability provisions: (USD millions) 2020 2019 2018 January 1 714 692 761 Cash payments – 10 – 30 – 48 Releases 1 – 27 – 83 – 21 Additions 2 82 124 7 Currency translation effects 50 11 – 7 December 31 809 714 692 Less current provision – 167 – 122 – 58 Non-current environmental remediation provisions at December 31 642 592 634 1 2 The material components of the environmental remediation provisions consist of costs to sufficiently clean and refurbish contaminated sites to the extent necessary and to continue surveillance at sites where the environmental remediation exposure is less significant. A substantial portion of the environmental remediation provisions relate to the remediation of Basel regional landfills in the adjacent border areas in Switzerland, Germany and France. The provisions are reassessed on a yearly basis and adjusted as necessary. In the United States, Novartis has been named under federal legislation (the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended) as a potentially responsible party (PRP) in respect of certain sites. Novartis actively participates in, or monitors, the cleanup activities at the sites in which it is a PRP. The provision takes into consideration the number of other PRPs at each site as well as the identity and financial position of such parties in light of the joint and several nature of the liability. The expected timing of the related cash outflows as of December 31, 2020, is currently projected as follows: Expected Due within two years 181 Due later than two years, but within five years 210 Due later than five years, but within 10 years 338 Due after 10 years 80 Total environmental remediation liability provisions 809 Provisions for product liabilities, governmental investigations and other legal matters Novartis has established provisions for certain product liabilities, governmental investigations and other legal matters where a potential cash outflow is probable and Novartis can make a reliable estimate of the amount of the outflow. These provisions represent the Group’s current best estimate of the total financial effect for the matters described below and for other less significant matters. Potential cash outflows reflected in a provision might be fully or partially offset by insurance in certain circumstances. Novartis has not established provisions for potential damage awards for certain additional legal claims against its subsidiaries if Novartis currently believes that a payment is either not probable or cannot be reliably estimated. In total, these not-provisioned-for matters include more than 3 000 individual product liability cases and certain other legal matters. Plaintiffs’ alleged claims in these matters, which Novartis does not believe to be entirely remote but which do not fulfill the conditions for the establishment of provisions, currently aggregate to, according to the current best belief of Novartis, approximately USD 0.5 billion. In addition, in some of these matters there are claims for punitive or multiple (treble) damages, civil penalties and disgorgement of profits that in the view of Novartis are either wholly or partially unspecified, or wholly or partially unquantifiable at present; the Group believes that information about these amounts claimed by plaintiffs generally is not meaningful for purposes of determining a reliable estimate of a loss that is probable or more than remote. A number of other legal matters are in such early stages or the issues presented are such that the Group has not made any provisions since it cannot currently estimate either a potential outcome or the amount of any potential losses. For these reasons, among others, the Group generally is unable to make a reliable estimate of possible loss with respect to such cases. It is therefore not practicable to provide information about the potential financial impact of those cases. There might also be cases for which the Group was able to make a reliable estimate of the possible loss or the range of possible loss, but the Group believes that publication of such information on a case-by-case basis would seriously prejudice the Group’s position in ongoing legal proceedings or in any related settlement discussions. Accordingly, in such cases, information has been disclosed with respect to the nature of the contingency, but no disclosure is provided as to an estimate of the possible loss or range of possible loss. Note 28 contains additional information on contingencies. Summary of significant legal proceedings The following is a summary of significant legal proceedings to which Novartis or its subsidiaries are currently a party, or were a party and that concluded in 2020. Investigations and related litigations Southern District of New York (S.D.N.Y.) Gilenya marketing practices investigation and litigation In 2013, Novartis Pharmaceuticals Corporation (NPC) received a civil investigative demand from the United States Attorney’s Office (USAO) for the S.D.N.Y. requesting the production of documents and information relating to marketing practices for Gilenya qui tam Government generic pricing antitrust investigations, antitrust class actions Since 2016, Sandoz Inc. has received a grand jury subpoena and a civil investigative demand and interrogatories from the Antitrust and Civil Divisions of the US Department of Justice (DOJ), and a subpoena and interrogatories from the Attorney General of the State of Connecticut in connection with those agencies’ investigation into alleged price fixing and market allocation of generic drugs in the US market as well as alleged federal False Claims Act (FCA) violations. In 2020, Sandoz Inc. reached a resolution with the DOJ Antitrust Division, pursuant to which Sandoz Inc. agreed to pay USD 195 million and entered into a deferred prosecution agreement. The Sandoz resolution related to instances of misconduct at the company between 2013 and 2015 with regard to certain generic drugs sold in the United States. Under the terms of that agreement, Sandoz Inc. will continue to take steps to enhance its compliance program, employee training and monitoring, and will continue to cooperate with the US government’s ongoing investigation into the generic pharmaceutical industry. Sandoz Inc. is also in negotiations with the DOJ Civil Division to resolve potential related claims and has recorded a provision of USD 187 million. Since the third quarter of 2016, Sandoz Inc. and Fougera Pharmaceuticals Inc. have been sued alongside other generic pharmaceutical companies in numerous individual and putative class action complaints by direct and indirect private purchasers and by 54 states and US territories, represented by their respective Attorneys General. Plaintiffs claim that defendants, including Sandoz, engaged in price fixing and market allocation of generic drugs in the US market, and seek damages and injunctive relief. The actions contain product-specific complaints as well as complaints alleging the existence of an overarching industry conspiracy, and assert violations of federal and state antitrust laws as well as consumer protection laws. The cases have been consolidated for pretrial purposes in the United States District Court (USDC) for the Eastern District of Pennsylvania, and the claims are being vigorously contested. Lucentis/Avastin ® In connection with an investigation into whether Novartis entities, F. Hoffmann-La Roche AG, Genentech Inc. and Roche S.p.A. colluded to artificially preserve the market positions of Avastin ® Lucentis Japan investigation In 2015, a trial started against a former Novartis Pharma K.K. (NPKK) employee, and also against NPKK under the dual liability concept in Japanese law, over allegations brought by the Tokyo District Public Prosecutor Office for alleged manipulation of data in sub-analysis publications of the Kyoto Heart Study regarding valsartan. The charges against NPKK are subject to a maximum total fine of JPY 4 million. In 2018, the Tokyo High Court upheld a not-guilty ruling of the Tokyo District Court for both the former NPKK employee and NPKK. A further appeal by the Tokyo High Public Prosecutor Office remains pending. South Korea investigation In 2016, the Seoul Western District Prosecutor initiated a criminal investigation into, among other things, allegations that Novartis Korea utilized medical journals to provide inappropriate economic benefits to healthcare professionals (HCPs). This resulted in a non-material fine in January 2020, and the Prosecutor has appealed the fine. The resolution of inquiries by the DOJ and the US Securities and Exchange Commission (SEC) regarding this matter is described below in “Concluded legal matters - US Government Foreign Corrupt Practices Act (FCPA) investigations.” Greece investigation Novartis is providing information to the Greek authorities investigating allegations of potentially inappropriate economic benefits to HCPs, government officials and others in Greece. These authorities include the Greek Coordinating Body for Inspection and Control, and the Greek Body of Prosecution of Financial Crime, from which the Company received a summons in 2018 and 2020. The resolution of inquiries by the DOJ and the SEC regarding this matter is described below in “Concluded legal matters - US Government Foreign Corrupt Practices Act (FCPA) investigations.” Antitrust class actions Exforge Since 2018, Novartis Group companies as well as other pharmaceutical companies have been sued by various direct and indirect purchasers of Exforge Product liability litigation Reclast NPC is a defendant in more than 20 US product liability actions involving Reclast Taxotere® (docetaxel) Sandoz is a defendant in more than 3 000 US product liability actions involving Taxotere ® Amiodarone Sandoz entities are named in less than five individual and multi-plaintiff US product liability cases involving amiodarone, a cardiac drug indicated to treat life-threatening arrhythmias that have not responded to other treatment. The complaints allege failure to warn, off-label promotion and failure to include medication guides to pharmacies. The claims are being vigorously contested. Sartans and ranitidine Since 2018, claims have been brought against Sandoz and other pharmaceutical companies alleging injury from carcinogenic impurities found in valsartan and valsartan/HCT film-coated tablets and/or losartan marketed or manufactured by Sandoz. These claims include several putative class actions in Canada. Claims have also been brought alleging injury from carcinogenic impurities in ranitidine-containing medicines. These claims also include several putative class actions in Canada and a multidistrict litigation in Florida. All of these claims are being vigorously contested. Tasigna NPC is a defendant in more than 80 US product liability actions involving Tasigna Other matters Average Wholesale Price (AWP) litigation Lawsuits have been brought, the latest in February 2016, by various US state governmental entities and private parties against various pharmaceutical companies, including NPC, alleging that they fraudulently overstated the AWP that is or has been used by payors, including state Medicaid agencies, to calculate reimbursements to healthcare providers. NPC remains a defendant in a putative class action brought by private payors in New Jersey, and vigorously contests those claims. Aimovig–Amgen dispute In 2015 and 2017, Novartis and Amgen entered into agreements regarding the development and commercialization of Aimovig Shareholder Derivative Lawsuit In 2021, NPC, Sandoz Inc., Novartis Capital Corporation and certain present and former directors and officers of Novartis were named as defendants, and Novartis was named as a nominal defendant, in a purported shareholder derivative lawsuit filed in New York state court. The plaintiff, derivatively as a purported Novartis shareholder on behalf of Novartis, seeks damages and other remedies based on alleged conduct by the corporate and individual defendants. The claims are being vigorously contested. Concluded legal matters S.D.N.Y. marketing practices investigation and litigation In 2013, the US government filed a civil complaint in intervention to an individual qui tam Lotrel Starlix Valturna U.S. Government Foreign Corrupt Practices Act (FCPA) investigations In 2020, Novartis reached settlements with the DOJ and the SEC resolving all FCPA investigations into historical conduct by Novartis and its subsidiaries. These investigations were previously disclosed in Note 20 to the Consolidated Financial Statements in our 2019 Annual Report and 2019 Form 20-F under the headings “Investigations and related litigations – Greece investigation,” “Investigations and related litigations – South Korea investigation” and “Investigations and related litigations – Asia/Russia investigation.” As part of the coordinated resolution of these investigations, Novartis and certain of its current and former subsidiaries agreed to pay USD 0.3 billion. To resolve the DOJ investigation, both Novartis Hellas S.A.C.I. and Alcon Pte Ltd., a former Novartis subsidiary, entered into separate deferred prosecution agreements (DPA) with the DOJ. The Novartis Hellas DPA contained no allegations relating to any bribery of Greek politicians, which is consistent with what Novartis found in its own internal investigation. To resolve the SEC investigation, Novartis AG reached an agreement pertaining to internal controls and books and records violations in Greece, Vietnam and South Korea, which also addressed certain internal controls and books and records issues related to Alcon China’s placement of surgical devices. Other developments in Greece and South Korea are described above in “Investigations and related litigations – Greece investigation” and “Investigations and related litigations – South Korea investigation,” respectively. The matters disclosed in Note 20 to the Consolidated Financial Statements in our 2019 Annual Report and 2019 Form 20-F under the heading “Investigations and related litigations – Asia/Russia investigation” are now concluded. Enoxaparin In 2015, Sandoz and Momenta Pharmaceuticals were sued in a putative antitrust class action in federal court in Tennessee alleging that Momenta and Sandoz engaged in anticompetitive and unfair business conduct with regard to sales of enoxaparin. In 2019, Sandoz agreed to pay USD 85 million to resolve the class action. The matter is now concluded. Summary of product liability, governmental investigations and other legal matters provision movements (USD millions) 2020 2019 2018 January 1 1 369 340 351 Provisions related to 1 Impact of acquisitions of businesses 11 10 Cash payments – 1 863 – 116 – 118 Releases of provisions 2 – 31 – 52 – 107 Additions to provisions 3 1 018 1 230 220 Currency translation effects – 17 – 1 – 6 December 31 487 1 369 340 Less current portion – 306 – 1 169 – 126 Non-current product liabilities, governmental investigations and other legal matters provisions at December 31 181 200 214 1 2 3 Novartis believes that its total provisions for investigations, product liability, arbitration and other legal matters are adequate based upon currently available information. However, given the inherent difficulties in estimating liabilities, there can be no assurance that additional liabilities and costs will not be incurred beyond the amounts provided. |
Current financial debt and deri
Current financial debt and derivative financial instruments | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of current financial debt and derivative instruments [abstract] | |
Current financial debt and derivative financial instruments | 21. Current financial debt and derivative financial instruments (USD millions) 2020 2019 Interest-bearing accounts of associates 1 Bank and other financial debt 2 976 719 Commercial paper 4 258 2 289 Current portion of non-current financial debt 2 272 2 002 Derivative financial instruments 194 185 Total current financial debt and derivative financial instruments 9 785 7 031 1 2 The consolidated balance sheet amounts of current financial debt, other than the current portion of non-current financial debt, approximate the estimated fair value due to the short-term nature of these instruments. Details on commercial papers and short term borrowings are provided under “Liquidity risk” in Note 29. |
Provisions and other current li
Provisions and other current liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of provisions and other current liabilities [abstract] | |
Provisions and other current liabilities | 22. Provisions and other current liabilities (USD millions) 2020 2019 Taxes other than income taxes 749 471 Restructuring provisions 459 438 Accrued expenses for goods and services received but not invoiced 1 167 1 046 Accruals for royalties 732 653 Accrued interests on financial debt 133 98 Provisions for deductions from revenue 6 256 5 595 Accruals for compensation and benefits, including social security 2 286 2 464 Environmental remediation liabilities 167 122 Deferred income 56 114 Provisions for product liabilities, governmental investigations and other legal matters 1 306 1 169 Accrued share-based payments 269 326 Contingent considerations 2 62 78 Commitment for repurchase of own shares 3 1 769 Other payables 716 764 Total provisions and other current liabilities 15 127 13 338 1 2 3 Provisions are based upon management’s best estimate and adjusted for actual experience. Such adjustments to historic estimates have not been material. Provisions for deductions from revenue The following table shows the movement of the provisions for deductions from revenue: Income statement charge 2 Revenue 1 2020 US-specific healthcare plans Non-US-specific healthcare plans Non-healthcare plans and program-related rebates, returns and other deductions 1 845 67 – 11 137 – 51 11 094 113 1 931 Total 2020 5 595 234 – 19 294 – 151 19 773 99 6 256 2019 US-specific healthcare plans Non-US-specific healthcare plans Non-healthcare plans and program-related rebates, returns and other deductions 1 754 – 166 9 – 11 698 – 25 11 868 103 1 845 Total 2019 5 262 – 194 – 10 – 19 348 – 220 20 001 104 5 595 2018 US-specific healthcare plans Non-US-specific healthcare plans Non-healthcare plans and program-related rebates, returns and other deductions 1 726 – 51 – 12 227 – 91 11 956 441 1 754 Total 2018 4 672 – 129 – 18 567 – 98 19 052 332 5 262 1 2 Restructuring provisions movements (USD millions) 2020 2019 2018 January 1 438 507 153 Provisions related to 1 Additions 2 354 492 534 Cash payments – 268 – 479 – 145 Releases 3 – 87 – 72 – 33 Currency translation effects 22 – 2 – 2 December 31 459 438 507 1 2 3 In 2020, additions to provisions of USD 354 million were mainly related to the following reorganizations: • The Innovative Medicines Division restructured its field force and supporting functions in Region Europe. • The Sandoz Division initiatives to realign its organizational structures to improve competiveness that commenced in 2019 continued. • Group-wide initiatives to streamline Novartis Technical Operations through the setup of operations centers and implementation of new technologies, in the Innovative Medicines Division and the Sandoz Division, continued. In addition, Novartis Business Services continued the phased implementation of the new operating model to change outsourcing structures and transition activities to service centers. In 2019, additions to provisions of USD 492 million were mainly related to the following reorganizations: • The Innovative Medicines Division restructured its field force and supporting functions in Latin America, and following the Xiidra • The Sandoz Division initiatives to realign its organizational structures to improve competiveness. These initiatives include reduction in its headquarters, global functions and countries workforce, and the closure of its development center in Holzkirchen, Germany. • Group-wide initiatives to streamline Novartis Technical Operations and implement new technologies, mainly in the Innovative Medicines Division and in the Sandoz Division, continued. In addition, Novartis Business Services launched the next phase of the new operating model to change outsourcing structures and transition activities to service centers. In 2018, additions to provisions of USD 534 million were mainly related to the following reorganizations: • The Innovative Medicines Division’s Oncology business unit initiative to streamline its organizational structure. The objective was to enhance agility and efficiency, resulting in an acceleration of operational execution. In addition, a program to reorganize the Japanese business model was launched. Region Europe transformed its approach to market in light of the changing product portfolio. The objective was to speed up patient access. • Group-wide initiatives to streamline Novartis Technical Operations and implement new technologies, mainly in the Innovative Medicines Division and in the Sandoz Division, continued. In addition, Novartis Business Services launched an initiative to reorganize its organizational structure to achieve cost efficiencies by shifting activities to global service centers. |
Details to the consolidated sta
Details to the consolidated statements of cash flows | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of details to the consolidated statements of cash flows [abstract] | |
Details to the consolidated statements of cash flows | 23. Details to the consolidated statements of cash flows 23.1) Reversal of non-cash items and other adjustments from continuing operations (USD millions) 2020 2019 2018 Depreciation, amortization and impairments on: Property, plant and equipment 1 758 1 547 1 783 Right-of-use assets 1 330 305 Intangible assets 4 376 3 974 3 428 Financial assets 2 – 335 – 38 6 Change in provisions and other non-current liabilities 1 411 1 871 895 Gains on disposal and other adjustments on property, plant and equipment; intangible assets; Equity-settled compensation expense 738 758 673 Income from associated companies 3 – 673 – 659 – 6 438 Taxes 1 807 1 793 1 295 Net financial expense 947 805 746 Total 9 881 9 122 1 486 1 2 3 23.2) Total amount of taxes paid In 2020, the total amount of taxes paid was USD 1.9 billion, of which USD 1.8 billion was included within “Net cash flows from operating activities from continuing operations”, and USD 88 million was included within “Net cash flows used in investing activities from discontinued operations.” In 2019, the total amount of taxes paid was USD 2.0 billion, of which USD 1.9 billion was included within “Net cash flows from operating activities from continuing operations”, USD 38 million was included within “Net cash flows from operating activities from discontinued operations,” and USD 79 million was included within “Net cash flows used in investing activities from discontinued operations.” In 2018, the total amount of taxes paid was USD 1.8 billion, of which USD 1.5 billion was included within “Net cash flows from operating activities from continuing operations”, USD 164 million was included within “Net cash flows from operating activities from discontinued operations,” and USD 139 million was included within “Net cash flows used in investing activities from continuing operations.” 23.3) Cash flows from changes in working capital and other operating items included in the net cash flows from operating activities from continuing operations (USD millions) 2020 2019 2018 (Increase) in inventories – 543 – 382 – 387 Decrease/(increase) in trade receivables 137 – 980 – 544 (Decrease)/increase in trade payables – 324 553 252 Change in other current assets 229 – 160 316 Change in other current liabilities 211 1 167 941 Other adjustments, net – 1 1 – 2 Total – 291 199 576 23.4) Cash flows arising from acquisitions and divestments of interests in associated companies, net In 2018, acquisitions and divestments of interests in associated companies included USD 12 855 million net of taxes (USD 12 994 million before taxes) from the divestment of the investment in GSK Consumer Healthcare Holdings Ltd. (see Note 2). 23.5) Cash flows arising from acquisitions and divestments of businesses, net The following table is a summary of the cash flow impact of acquisitions and divestments of businesses. The most significant transactions are described in Note 2. (USD millions) Note 2020 2019 2018 Net assets recognized as a result of acquisitions of businesses 24 – 10 173 – 4 124 – 13 660 Fair value of previously held equity interests 7 33 Contingent consideration payables, net 98 242 – 5 Payments, deferred consideration and other adjustments, net 62 – 2 – 36 Cash flows used for acquisitions of businesses – 10 006 – 3 851 – 13 701 Cash flows from divestments of businesses, net 1 49 91 18 Cash flows used for acquisitions and divestments of businesses, net – 9 957 – 3 760 – 13 683 1 Notes 2 and 24 provide further information regarding acquisitions and divestments of businesses. All acquisitions were for cash. 23.6) Reconciliation of liabilities arising from financing activities Current January 1, 2020 20 353 7 031 1 703 246 Increase in non-current financial debts 7 126 Repayments of non-current financial debts – 2 003 Change in current financial debts 2 261 Payments of lease liabilities, net – 312 Interest payments for amounts included in lease liabilities New leases 221 73 Impact of acquisitions of businesses 32 36 8 Changes in fair values, and other changes, net – 1 – 30 65 Amortization of bonds discount 16 5 Currency translation effects 832 392 39 12 Reclassification from non-current to current, net – 2 067 2 067 – 250 250 December 31, 2020 26 259 9 785 1 719 286 Current January 1, 2019 22 470 9 678 Impact of adoption of IFRS 16 Leases continuing operations 1 – 2 – 1 1 471 268 Impact of adoption of IFRS 16 Leases discontinued operations 2 – 89 246 40 Financial debts and lease liabilities related to discontinued operations 3 – 47 – 246 – 40 Increase in non-current financial debts 93 Repayments of non-current financial debts – 3 195 Change in current financial debts – 1 582 Payments of lease liabilities, net – 273 Interest payments for amounts included in lease liabilities New leases 362 131 Impact of acquisitions and divestments of businesses 2 – 11 – 6 Changes in fair values, and other changes, net 129 33 20 Amortization of bonds discount 25 Currency translation effects – 141 44 4 1 Reclassification from non-current to current, net – 2 003 2 003 – 156 156 December 31, 2019 20 353 7 031 1 703 246 1 2 3 Current January 1, 2018 23 224 5 308 Increase in non-current financial debts 1 2 856 Repayments of non-current financial debts 2 – 366 Change in current financial debts 3 1 681 Impact of acquisitions of businesses 10 4 Changes in fair values, and other changes 5 – 48 Amortization of bonds discount 27 2 Currency translation effects – 462 – 93 Current portion of non-current financial debt – 3 190 3 190 December 31, 2018 22 470 9 678 1 2 3 For net cash flows used in investing activities from discontinued operations, see Note 30. |
Acquisitions of businesses
Acquisitions of businesses | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of acquisition of businesses [abstract] | |
Acquisition of businesses | 24. Acquisitions of businesses Fair value of assets and liabilities arising from acquisitions of businesses (USD millions) 2020 2019 2018 Property, plant and equipment 26 44 137 Right-of-use assets 32 Currently marketed products 196 3 550 2 531 Acquired research and development 8 600 342 10 224 Other intangible assets 218 22 1 Deferred tax assets 476 60 381 Non-current financial and other assets 49 8 19 Inventories 84 195 20 Trade receivables and financial and other current assets 109 4 90 Cash and cash equivalents 76 1 112 Deferred tax liabilities – 1 977 – 107 – 2 874 Current and non-current financial debts – 32 – 2 – 14 Current and non-current lease liabilities – 44 Trade payables and other liabilities – 144 – 178 – 627 Net identifiable assets acquired 7 669 3 938 11 000 Acquired cash and cash equivalents – 76 – 1 112 Non-controlling interests – 26 Goodwill 2 580 186 4 084 Net assets recognized as a result of acquisitions of businesses 1 10 173 4 124 13 946 1 Note 2 details significant acquisitions of businesses, specifically, The Medicines Company and the Japanese business of AGI in 2020; Xiidra |
Post-employment benefits for as
Post-employment benefits for associates | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of defined benefit plans [abstract] | |
Post-employment benefits for associates | 25. Post-employment benefits for associates Defined benefit plans In addition to the legally required social security schemes, the Group has numerous independent pension and other post-employment benefit plans. In most cases, these plans are externally funded in entities that are legally separate from the Group. For certain Group companies, however, no independent plan assets exist for the pension and other post-employment benefit obligations of associates. In these cases, the related unfunded liability is included in the balance sheet. The defined benefit obligations (DBOs) of all major pension and other post-employment benefit plans are reappraised annually by independent actuaries. Plan assets are recognized at fair value. The major plans are based in Switzerland, the United States, the United Kingdom, Germany and Japan, which represent 95% of the Group’s total DBO for pension plans. Details of the plans in the two most significant countries, Switzerland and the United States, which represent 81% of the Group’s total DBO for post-employment benefit plans, are provided below. Swiss-based pension plans represent the most significant portion of the Group’s total DBO and plan assets. For the active insured members born on or after January 1, 1956, or having joined the plans after December 31, 2010, the benefits are partially linked to the contributions paid into the plan. Certain features of Swiss pension plans required by law preclude the plans from being categorized as defined contribution plans. These factors include a minimum interest guarantee on retirement savings accounts, a predetermined factor for converting the accumulated savings account balance into a pension, and embedded death and disability benefits. All benefits granted under Swiss-based pension plans are vested, and Swiss legislation prescribes that the employer has to contribute a fixed percentage of an associate’s pay to an external pension fund. Additional employer contributions may be required whenever the plan’s statutory funding ratio falls below a certain level. The associate also contributes to the plan. The pension plans are run by separate legal entities, each governed by a board of trustees that – for the principal plans – consists of representatives nominated by Novartis and the active insured associates. The boards of trustees are responsible for the plan design and asset investment strategy. In December 2020 the Board of Trustees of the Novartis Swiss Pension Fund agreed to adjust the annuity conversion rate at retirement with effect from January 1, 2022. This amendment does not affect existing pensioners, and its impact on existing plan participants will be mitigated by way of defined compensatory measures. This amendment resulted in a net pre-tax curtailment gain of USD 101 million (CHF 90 million). The United States pension plans represent the second-largest component of the Group’s total DBO and plan assets. The principal plans (Qualified Plans) are funded, whereas plans providing additional benefits for executives (Restoration Plans) are unfunded. Employer contributions are required for Qualified Plans whenever the statutory funding ratio falls below a certain level. Furthermore, in certain countries, associates are covered under other post-employment benefit plans and post-retirement medical plans. In the US, other post-employment benefit plans consist primarily of post-employment healthcare benefits, which have been closed to new members since 2015. Part of the costs of these plans is reimbursable under the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. There is no statutory funding requirement for these plans. The Group is funding these plans to the extent that it is tax efficient. The following tables are a summary of the funded and unfunded defined benefit obligation for pension and other post-employment benefit plans of associates at December 31, 2020 and 2019: Pension plans Other post-employment benefit plans (USD millions) 2020 2019 2020 2019 Benefit obligation at January 1 23 066 22 179 746 1 073 Benefit obligations related to discontinued operations 1 – 662 – 385 Current service cost 372 336 11 13 Interest cost 222 330 20 29 Past service costs and settlements – 102 – 168 1 Administrative expenses 24 24 Remeasurement losses/(gains) arising from changes in financial assumptions 1 166 1 791 40 76 Remeasurement (gains)/losses arising from changes in demographic assumptions – 28 – 193 – 13 – 9 Experience-related remeasurement losses/(gains) 159 184 – 132 – 22 Currency translation effects 1 810 283 – 7 Benefit payments – 1 264 – 1 256 – 33 – 30 Contributions of associates 186 169 Effect of acquisitions, divestments or transfers – 9 49 – 1 1 Benefit obligation at December 31 25 602 23 066 632 746 Fair value of plan assets at January 1 19 810 18 838 134 119 Plan assets related to discontinued operations 1 – 424 – 40 Interest income 166 257 4 3 Return on plan assets excluding interest income 1 318 1 656 4 10 Currency translation effects 1 620 304 Novartis Group contributions 464 420 – 20 74 Contributions of associates 186 169 Settlements 15 – 193 Benefit payments – 1 264 – 1 256 – 33 – 30 Effect of acquisitions, divestments or transfers 2 39 – 2 Fair value of plan assets at December 31 22 317 19 810 89 134 Funded status – 3 285 – 3 256 – 543 – 612 Limitation on recognition of fund surplus at January 1 – 65 – 68 Change in limitation on recognition of fund surplus (incl. exchange rate differences) 16 7 Interest income on limitation of fund surplus – 2 – 4 Limitation on recognition of fund surplus at December 31 – 51 – 65 Net liability in the balance sheet at December 31 – 3 336 – 3 321 – 543 – 612 1 The reconciliation of the net liability from January 1 to December 31 is as follows: Pension plans Other post-employment benefit plans (USD millions) 2020 2019 2020 2019 Net liability at January 1 – 3 321 – 3 409 – 612 – 954 Less: net liability related to discontinued operations 1 238 345 Current service cost – 372 – 336 – 11 – 13 Net interest expense – 58 – 77 – 16 – 26 Administrative expenses – 24 – 24 Past service costs and settlements 117 – 25 – 1 Remeasurements 21 – 126 109 – 35 Currency translation effects – 190 21 7 Novartis Group contributions 464 420 – 20 74 Effect of acquisitions, divestments or transfers 11 – 10 1 – 3 Change in limitation on recognition of fund surplus 16 7 Net liability at December 31 – 3 336 – 3 321 – 543 – 612 Amounts recognized in the consolidated balance sheet Prepaid benefit cost 202 148 Accrued benefit liability – 3 538 – 3 469 – 543 – 612 1 The following table shows a breakdown of the DBO for pension plans by geography and type of member, and the breakdown of plan assets into the geographical locations in which they are held: 2020 2019 United Rest of United Rest of Benefit obligation at December 31 16 807 3 788 5 007 25 602 15 106 3 552 4 408 23 066 Thereof unfunded 701 516 1 217 670 466 1 136 By type of member Active 6 837 665 1 573 9 075 6 167 630 1 400 8 197 Deferred pensioners 1 290 1 819 3 109 1 205 1 517 2 722 Pensioners 9 970 1 833 1 615 13 418 8 939 1 717 1 491 12 147 Fair value of plan assets at December 31 16 396 2 487 3 434 22 317 14 457 2 311 3 042 19 810 Funded status – 411 – 1 301 – 1 573 – 3 285 – 649 – 1 241 – 1 366 – 3 256 The following table shows a breakdown of the DBO for other post-employment benefit plans by geography and type of member, and the breakdown of plan assets into the geographical locations in which they are held: 2020 2019 United Rest of United Rest of Benefit obligation at December 31 543 89 632 658 88 746 Thereof unfunded 454 89 543 524 88 612 By type of member Active 80 25 105 121 36 157 Deferred pensioners 17 0 17 15 0 15 Pensioners 446 64 510 522 52 574 Fair value of plan assets at December 31 89 0 89 134 0 134 Funded status – 454 – 89 – 543 – 524 – 88 – 612 The following table shows the principal weighted average actuarial assumptions used for calculating defined benefit plans and other post-employment benefits of associates: Pension plans Other post-employment benefit plans 2020 2019 2018 2020 2019 2018 Weighted average assumptions used to determine benefit obligations at December 31 Discount rate 0.6% 1.0% 1.6% 2.9% 3.6% 4.4% Expected rate of pension increase 0.3% 0.3% 0.4% Expected rate of salary increase 2.7% 2.8% 2.8% Interest on savings account 0.1% 0.3% 0.8% Current average life expectancy Current average life expectancy Changes in the aforementioned actuarial assumptions can result in significant volatility in the accounting for the Group’s pension plans in the consolidated financial statements. This can result in substantial changes in the Group’s other comprehensive income, long-term liabilities and prepaid pension assets. The DBO is significantly impacted by assumptions regarding the rate that is used to discount the actuarially determined post-employment benefit liability. This rate is based on yields of high-quality corporate bonds in the country of the plan. Decreasing corporate bond yields decrease the discount rate, so that the DBO increases and the funded status decreases. In Switzerland, an increase in the DBO due to lower discount rates is slightly offset by lower future benefits expected to be paid on the associate’s savings account where the assumption on interest accrued changes in line with the discount rate. The impact of decreasing interest rates on a plan’s assets is more difficult to predict. A significant part of the plan assets is invested in bonds. Bond values usually rise when interest rates decrease and may therefore partially compensate for the decrease in the funded status. Furthermore, pension assets also include significant holdings of equity instruments. Share prices tend to rise when interest rates decrease and therefore often counteract the negative impact of the rising defined benefit obligation on the funded status (although the correlation of interest rates with equities is not as strong as with bonds, especially in the short term). The expected rate for pension increases significantly affects the DBO of most plans in Switzerland, Germany and the United Kingdom. Such pension increases also decrease the funded status, although there is no strong correlation between the value of the plan assets and pension/inflation increases. Assumptions regarding life expectancy significantly impact the DBO. An increase in longevity increases the DBO. There is no offsetting impact from the plan assets, as no longevity bonds or swaps are held by the pension funds. Generational mortality tables are used where this data is available. The following table shows the sensitivity of the defined benefit pension obligation to the principal actuarial assumptions for the major plans in Switzerland, the United States, the United Kingdom, Germany and Japan on an aggregated basis: Change in 2020 year-end 25 basis point increase in discount rate – 885 25 basis point decrease in discount rate 942 One-year increase in life expectancy 993 25 basis point increase in rate of pension increase 589 25 basis point decrease in rate of pension increase – 143 25 basis point increase of interest on savings account 62 25 basis point decrease of interest on savings account – 30 25 basis point increase in rate of salary increase 61 25 basis point decrease in rate of salary increase – 61 The healthcare cost trend rate assumptions used for other post-employment benefits are as follows: 2020 2019 2018 Healthcare cost trend rate Rate to which the cost trend Year that the rate reaches The following table shows the weighted average plan asset allocation of funded defined benefit pension plans at December 31, 2020 and 2019: Pension plans Long-term Long-term Equity securities 15 40 28 27 Debt securities 20 60 34 36 Real estate 5 20 17 17 Alternative investments 0 20 13 15 Cash and other investments 0 15 8 5 Total 100 100 Cash and most of the equity and debt securities have a quoted market price in an active market. Real estate and alternative investments, which include hedge fund, private equity, infrastructure and commodity investments, usually have a quoted market price or a regularly updated net asset value. The strategic allocation of assets of the different pension plans is determined with the objective of achieving an investment return that, together with the contributions paid by the Group and its associates, is sufficient to maintain reasonable control over the various funding risks of the plans. Based upon the market and economic environments, actual asset allocations may temporarily be permitted to deviate from policy targets. The asset allocation currently includes investments in shares of Novartis AG as per the below table: December 31, December 31, Investment in shares of Novartis AG Number of shares (in millions) 2.3 2.3 Market value (in USD billions) 0.2 0.2 The weighted average duration of the defined benefit obligation is 15.4 years (2019: 15.2 years). The Group’s ordinary contribution to the various pension plans is based on the rules of each plan. Additional contributions are made whenever this is required by statute or law (i.e., usually when statutory funding levels fall below predetermined thresholds). The only significant plans that are foreseen to require additional funding are those in the United Kingdom and Germany. The expected future cash flows in respect of pension and other post-employment benefit plans at December 31, 2020, were as follows: Other post- Novartis Group contributions 2021 (estimated) 404 40 Expected future benefit payments 2021 1 245 40 2022 1 198 41 2023 1 191 41 2024 1 182 40 2025 1 165 40 2026–2030 5 651 181 Defined contribution plans In many subsidiaries, associates are covered by defined contribution plans. Contributions charged to the consolidated income statement for the defined contribution plans were: (USD millions) 2020 2019 2018 Contributions for defined contribution plans continuing operations 501 422 443 For defined contribution plans for discontinued operations, see Note 30. |
Equity-based participation plan
Equity-based participation plans for associates | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Equity-based participation plans for associates | 26. Equity-based participation plans for associates The expense related to all equity-based participation plans and the liabilities arising from equity-based payment transactions were as follows: (USD millions) 2020 2019 2018 Expense related to equity-based Liabilities arising from equity-based payment transactions 269 326 273 Equity-based participation plans can be separated into the following plans: Annual Incentive The Annual Incentive for the Novartis Group CEO and other Executive Committee members (ECN) is paid 50% in cash and 50% in Novartis restricted shares (RSs) or restricted share units (RSUs). For the Novartis Top Leaders (NTLs), the Annual Incentive is paid 70% in cash and 30% in RSs or RSUs. Both the ECN and NTLs can opt to invest up to the maximum cash portion of their Annual Incentive to receive further RSs or RSUs. Any cash is paid out during February or March in the year following the end of the performance period, and the shares are granted during January in the year following the end of the performance period. Share savings plans Associates in certain countries and certain key executives worldwide are encouraged to invest their Annual Incentive in a share savings plan. Under the share savings plan, participants may elect to receive their relevant compensation fully or partially in Novartis shares in lieu of cash. As a reward for their participation in the share savings plan, at no additional cost to the participant, Novartis matches their investments in shares after a holding period of three or five years. Novartis operates share savings plans for which associates may only participate in one of the share savings plans in any given year. The most significant are listed below: • In Switzerland, Employee Share Ownership Plan (ESOP) participants may choose to receive their Annual Incentive (i) 100% in shares, (ii) 50% in shares and 50% in cash, or (iii) 100% in cash. After expiration of a three-year holding period for Novartis shares invested under the ESOP, participants will receive one matching share for every two invested shares. Associates eligible for the equity plan “Select” are not eligible to receive ESOP matching shares starting with the 2017 performance period. • The Leveraged Share Savings Plan (LSSP) was available to key executives for performance periods prior to 2016. At the participant’s election, the Annual Incentive was awarded partly or entirely in shares. The elected number of shares is subject to a holding period of five years. At the end of the holding period, Novartis will match the invested shares at a ratio of 1-to-1 (i.e., one share awarded for each invested share). In the United States, both the LSSP award and the corresponding match are cash settled. The Novartis Group CEO, the other Executive Committee members from 2014, and the NTLs from 2016 are not eligible to participate in the share savings plans. Novartis equity plan “Select” The equity plan “Select” is a global equity incentive plan under which eligible associates may annually be awarded a grant subject to a three-year, and for selected units a four-year, staggered vesting period. No awards are granted for performance ratings below a certain threshold. Executive Committee members and NTLs are not eligible to participate in the equity plan “Select”. The equity plan “Select” currently allows participants in Switzerland to choose the form of their equity compensation in RSs or RSUs. In all other jurisdictions, RSs or RSUs are granted unilaterally. Until 2013, participants could also choose to receive part or the entire grant in the form of tradable share options. Tradable share options expire on their 10 th th Options under Novartis equity plan “Select” outside North America The following table shows the activity associated with the share options during the period. The weighted average prices in the table below are translated from Swiss francs into USD at historical rates. 2020 2019 Weighted Weighted Options outstanding Sold or exercised – 0.8 57.3 – 2.2 58.4 Outstanding at December 31 2.6 62.0 3.4 60.9 Exercisable at December 31 2.6 62.0 3.4 60.9 All share options were granted at an exercise price that was equal to the closing market price of the Group’s shares at the grant date. The weighted average share price at the dates of sale or exercise was USD 91.7. The following table summarizes information about share options outstanding at December 31, 2020: Total/ Number outstanding (millions) 0.4 0.8 1.4 2.6 Remaining contractual life (years) 0.0 1.0 2.0 1.4 Exercise price (USD) 57.0 57.6 66.0 62.0 Options under Novartis equity plan “Select” for North America The following table shows the activity associated with the ADR options during the period: 2020 2019 Weighted Weighted Options outstanding Sold or exercised – 2.9 59.6 – 5.6 58.6 Outstanding at December 31 6.7 62.9 9.6 61.9 Exercisable at December 31 6.7 62.9 9.6 61.9 All ADR options were granted at an exercise price that was equal to the closing market price of the ADRs at the grant date. The weighted average ADR price at the dates of sale or exercise was USD 92.2. The following table summarizes information about ADR options outstanding at December 31, 2020: Total/ Number outstanding (millions) 0.4 2.3 4.0 6.7 Remaining contractual life (years) 0.0 1.0 2.0 1.5 Exercise price (USD) 57.0 58.3 66.1 62.9 Long-Term Performance Plan The Long-Term Performance Plan (LTPP) is an equity plan for the ECN, the NTLs and employees of Group units with specific targets. Participants are granted a target number of performance share units (PSUs) at the beginning of every performance period, which are converted into unrestricted Novartis shares after the performance period. The actual payout depends on the achievement of the performance measures and ranges between 0% and 200% of the granted amount. PSUs granted under the LTPP do not carry voting rights, but do carry dividend equivalents that are paid in unrestricted Novartis shares at the end of the performance period. The LTPP awards are subject to a three-year performance and vesting period. Until 2018, the performance criteria were based on Novartis internal performance metrics. Starting in 2019, for new grants the performance criteria are based on both Novartis internal performance metrics and variables that can be observed in the market, which is the ranking of the Novartis total shareholder return (TSR) relative to a global healthcare peer group of 14 other companies, over rolling three-year performance periods. TSR for Novartis and the peer companies is calculated as the change in the company share price, which is translated to USD at the relevant exchange rate, including the reinvestment return of dividends, over the three-year performance period. The calculation is based on Bloomberg standard published TSR data, which is publicly available. The position of Novartis in the peer group determines the payout range based on a payout matrix. Long-Term Relative Performance Plan The LTRPP is an equity plan for the Novartis ECN and NTLs. The last grant under this plan was made in 2018. The LTRPP performance criteria are based on variables that can be observed in the market, which is the ranking of the Novartis TSR relative to a global healthcare peer group of 14 other companies, over rolling three-year performance periods. The TSR for Novartis and the peer companies is calculated as described in the LTPP section above. Other share awards Selected associates, excluding the ECN members, may exceptionally receive Special Share Awards of RSs or RSUs. These Special Share Awards provide an opportunity to reward outstanding achievements or exceptional performance, and aim to retain key contributors. They are based on a formal internal selection process, through which the individual performance of each candidate is thoroughly assessed at several management levels. Special Share Awards have a minimum three-year vesting period. In exceptional circumstances, Special Share Awards may be awarded to attract special expertise and new talents to the organization. Worldwide, associates at different levels in the organization were awarded RSs and RSUs in 2020, 2019 and 2018. In addition, in 2020, 2019 and 2018, Board members received unrestricted shares as part of their regular compensation. Summary of non-vested share movements The table below provides a summary of non-vested share movements (RSs, RSUs and PSUs) for all plans: 2020 2019 Weighted Weighted Non-vested shares at January 1 25.8 71.1 1 835 25.7 77.1 1 981 Granted – Annual Incentive 1.1 93.7 103 1.1 78.4 86 – Share savings plans 4.2 95.0 399 4.2 83.0 349 – Select North America 3.3 86.7 286 5.3 64.0 339 – Select outside North America 2.0 89.4 179 2.6 67.4 175 – Long-Term Performance Plan 2.5 85.1 213 2.5 68.9 172 – Long-Term Relative Performance Plan 1 0.2 0.0 0 0.1 0.0 0 – Other share awards 1.5 78.0 117 1.9 67.7 129 Vested – 13.8 74.2 – 1 024 – 13.3 80.3 – 1 068 Forfeited – 2.0 75.3 – 151 – 4.3 76.3 – 328 Non-vested shares at December 31 24.8 78.9 1 957 25.8 71.1 1 835 1 At April 8, 2019, the Alcon spin-off date, all RSU and PSU holders, who were not entitled to the dividend in kind in the form of Alcon shares received keep whole awards in Novartis shares to compensate for the loss of the Alcon value from their Novartis shares. These keep whole awards were accounted for as a modification. As they did not increase the value of the original grant, they did not lead to additional expense. In the table above, this is reflected by a zero fair value at grant date amount. |
Transactions with related parti
Transactions with related parties | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of transactions between related parties [abstract] | |
Transactions with related parties | 27. Transactions with related parties Roche Holding AG Novartis has two agreements with Genentech, Inc., United States (Genentech), and one agreement with Spark Therapeutics, Inc., United States (Spark). Both companies are subsidiaries of Roche Holding AG (Roche), which is indirectly included in the consolidated financial statements using equity accounting since Novartis holds 33.3% of the outstanding voting shares of Roche (see Note 4). Lucentis Novartis has licensed from Genentech/Roche the exclusive rights to develop and market Lucentis Lucentis Lucentis Xolair Novartis and Genentech/Roche are co-promoting Xolair Novartis markets Xolair Xolair Luxturna In 2018, Novartis entered into an exclusive licensing and commercialization agreement and a supply agreement with Spark for Luxturna The net income for royalties, cost sharing and profit sharing arising out of the Lucentis Xolair Luxturna Furthermore, Novartis has several patent license, supply and distribution agreements with Roche. Novartis Pension Fund In 2018, a Group subsidiary provided an uncommitted overnight credit facility to the Novartis Pension Fund, Switzerland, for up to USD 500 million with interest at the US Federal Funds Rate. This credit facility was not utilized during the years 2020, 2019 and 2018. Executive Officers and Non-Executive Directors compensation During 2020, there were 13 Executive Committee members (“Executive Officers”). There were 15 Executive Officers in 2019 and 17 Executive Officers in 2018, including those who stepped down. The total compensation for Executive Committee members and the 14 Non-Executive Directors (13 in 2019 and 2018) using the Group’s accounting policies for equity-based compensation and pension benefits was as follows: Executive Officers Non-Executive Directors Total (USD millions) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Cash and other compensation 25.6 20.7 22.5 4.6 4.1 4.0 30.2 24.8 26.5 Post-employment benefits 2.7 2.6 2.5 2.7 2.6 2.5 Equity-based compensation 41.1 40.6 42.5 5.2 4.6 4.8 46.3 45.2 47.3 Total 69.4 63.9 67.5 9.8 8.7 8.8 79.2 72.6 76.3 During 2020, the IFRS compensation expense increased due to higher cash and other compensation. This increase in cash compensation is mainly attributable to ECN members who joined the ECN during 2019, as a result 2019 represented only a portion of their annual compensation. Other compensation increased on account of higher social security payments on vested equity-based compensation. During 2019, the IFRS compensation expense decreased due to lower cash buyout payments to new executive officers and the forfeiture of equity-based compensation as a result of the resignation of an executive officer. These effects were partially offset by higher equity based compensation of executive officers appointed over the last three years. The Annual Incentive award, which is fully included in equity-based compensation even when paid out in cash, is granted in January in the year following the reporting period. The disclosures on Board and executive compensation required by the Swiss Code of Obligations and in accordance with the Swiss Ordinance against Excessive Compensation in Stock Exchange Listed Companies are shown in the Compensation Report of the Group. Transactions with former members of the Board of Directors During 2020, 2019 and 2018, the following payments (or waivers of claims) were made to former Board members or to “persons closely” linked to them: Currency 2020 2019 2018 Dr. Krauer CHF 60 000 60 000 60 000 Dr. Vasella CHF 18 228 Dr. Alex Krauer, Honorary Chairman, is entitled to an amount of CHF 60 000 for annual periods from one AGM to the next. This amount was fixed in 1998 upon his departure from the Board in 1999, and has not been revised since that date. |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and contingencies [abstract] | |
Commitments and contingencies | 28. Commitments and contingencies Research and development commitments The Group has entered into long-term research and development agreements with various institutions, which provide for potential milestone payments by Novartis that may be capitalized. As of December 31, 2020, the Group’s commitments to make payments under those agreements, and their estimated timing, were as follows: (USD millions) 2020 2021 449 2022 691 2023 325 2024 483 2025 281 Thereafter 3 003 Total 5 232 In addition in November 2020 and in January 2021, Novartis entered into long-term research and development agreements, both of which did not close as of January 25, 2021. These agreements provide for potential milestones payments by Novartis that may be capitalized. Based on their estimated timing, the payments for these transactions are expected to amount to USD 549 million in 2021, USD 248 million in 2022, USD 160 million in 2023, USD 415 million in 2024, USD 515 million in 2025, USD 1 409 million later than 2025, for a total of USD 3 296 million. Commitments for capital calls The Group holds investments in funds in which it has committed to invest further upon future capital calls. As of December 31, 2020, the total uncalled capital commitments for the Group’s investments in funds amounts to USD 87 million. Note 29 contains further information on the Group’s investments in funds. Other commitments The Group has entered into various purchase commitments for services and materials as well as for equipment in the ordinary course of business. These commitments are generally entered into at current market prices and reflect normal business operations. For disclosure of property, plant and equipment purchase commitments, see Note 9. Guarantees issued The Group has issued guarantees to third parties in the ordinary course of business, mostly for tax, customs or other governmental agencies. In addition, Novartis AG is guarantor of the Group’s issued bonds, credit facilities and commercial paper programs. Contingencies Group companies have to observe the laws, government orders and regulations of the country in which they operate. A number of Novartis companies are, and will likely continue to be, subject to various legal proceedings and investigations that arise from time to time, including proceedings regarding product liability; sales and marketing practices; commercial disputes; employment and wrongful discharge; and antitrust, securities, health and safety, environmental, tax, international trade, privacy and intellectual property matters. As a result, the Group may become subject to substantial liabilities that may not be covered by insurance and that could affect our business, financial position and reputation. While Novartis does not believe that any of these legal proceedings will have a material adverse effect on its financial position, litigation is inherently unpredictable and large judgments sometimes occur. As a consequence, Novartis may in the future incur judgments or enter into settlements of claims that could have a material adverse effect on its results of operations or cash flow. Governments and regulatory authorities around the world have been stepping up their compliance and law enforcement activities in recent years in key areas, including marketing practices, pricing, corruption, trade restrictions, embargo legislation, insider trading, antitrust, cyber security and data privacy. Further, when one government or regulatory authority undertakes an investigation, it is not uncommon for other governments or regulators to undertake investigations regarding the same or similar matters. Responding to such investigations is costly and requires an increasing amount of management’s time and attention. In addition, such investigations may affect our reputation, create a risk of potential exclusion from government reimbursement programs in the United States and other countries, and lead to (or arise from) litigation. These factors have contributed to decisions by Novartis and other companies in the healthcare industry, when deemed in their interest, to enter into settlement agreements with governmental authorities around the world prior to any formal decision by the authorities or a court. These government settlements have involved and may in the future involve large cash payments, sometimes in the hundreds of millions of dollars or more, including the potential repayment of amounts allegedly obtained improperly and other penalties, including treble damages. In addition, settlements of government healthcare fraud cases often require companies to enter into corporate integrity agreements, which are intended to regulate company behavior for a period of years. Our affiliate Novartis Corporation is a party to such an agreement, which will expire in 2025. Also, matters underlying governmental investigations and settlements may be the subject of separate private litigation. While provisions have been made for probable losses, which management deems to be reasonable or appropriate, there are uncertainties connected with these estimates. Note 20 contains additional information on these matters. A number of Group companies are involved in legal proceedings concerning intellectual property rights. The inherent unpredictability of such proceedings means that there can be no assurances as to their ultimate outcome. A negative result in any such proceeding could potentially adversely affect the ability of certain Novartis companies to sell their products, or require the payment of substantial damages or royalties. In the opinion of management, however, the outcome of these actions will not materially affect the Group’s financial position but could be material to the results of operations or cash flow in a given period. The Group’s potential environmental remediation liability is assessed based on a risk assessment and investigation of the various sites identified by the Group as at risk for environmental remediation exposure. The Group’s future remediation expenses are affected by a number of uncertainties. These uncertainties include, but are not limited to, the method and extent of remediation, the percentage of material attributable to the Group at the remediation sites relative to that attributable to other parties, and the financial capabilities of the other potentially responsible parties. Note 20 contains additional information on environmental liabilities. |
Financial instruments - additio
Financial instruments - additional disclosures | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments - additional disclosure [abstract] | |
Disclosure of detailed information about financial instruments [text block] | 29. Financial instruments – additional disclosures The following tables show the carrying values of financial instruments by measurement categories as of December 31, 2020 and 2019. Except for straight bonds (see Note 19), the carrying values are equal to, or a reasonable approximation of, the fair values. 2020 Financial Cash and cash equivalents 16 9 658 Time deposits and short-term investments with original maturity more than 90 days 16 1 609 Trade receivables 15 8 217 Other current assets 17 963 Marketable securities - debt securities 16 26 Long-term financial investments - equity securities 13 1 111 466 Long-term financial investments - debt securities 13 36 Long-term financial investments - fund investments 13 366 Long-term loans, advances, security deposits and other long-term receivables 13 297 Associated companies at fair value through profit and loss 211 Derivative financial instruments 16 159 Contingent consideration receivables 13 625 Total financial assets 20 744 1 173 1 827 Interest-bearing accounts of associates payable on demand 21 2 085 Bank and other short-term financial debt 21 976 Commercial paper 21 4 258 Straight bonds 19 28 298 Long-term liabilities to banks and other financial institutions 19 233 Trade payables 5 403 Commitment for repurchase of own shares 18/22 1 769 Contingent consideration liabilities (see Note 20/22) and other financial liabilities 1 069 Derivative financial instruments 21 194 Lease liabilities 10 2 005 Total financial liabilities 43 022 1 263 2 005 2019 Financial Cash and cash equivalents 16 11 112 Time deposits and short-term investments with original maturity more than 90 days 16 61 Trade receivables 15 8 301 Other current assets 17 2 036 Marketable securities - debt securities 16 24 Marketable securities - fund investments 16 37 Long-term financial investments - equity securities 13 1 158 366 Long-term financial investments - debt securities 13 33 Long-term financial investments - fund investments 13 233 Long-term loans, advances, security deposits and other long-term receivables 13 329 Associated companies at fair value through profit and loss 186 Derivative financial instruments 16 102 Contingent consideration receivables 13 399 Total financial assets 21 839 1 215 1 323 Interest-bearing accounts of associates payable on demand 21 1 836 Bank and other short-term financial debt 21 719 Commercial paper 21 2 289 Straight bonds 19 22 167 Long-term liabilities to banks and other financial institutions 19 188 Trade payables 5 424 Contingent consideration liabilities (see Note 20/22) and other financial liabilities 1 065 Derivative financial instruments 21 185 Lease liabilities 10 1 949 Total financial liabilities 32 623 1 250 1 949 Derivative financial instruments The following tables show the contract or underlying principal amounts and fair values of derivative financial instruments analyzed by type of contract at December 31, 2020 and 2019. Contract or underlying principal amounts indicate the gross volume of business outstanding at the consolidated balance sheet date and do not represent amounts at risk. The fair values are determined by reference to market prices or standard pricing models that use observable market inputs at December 31, 2020 and 2019. Contract or underlying principal amount Positive fair values Negative fair values (USD millions) 2020 2019 2020 2019 2020 2019 Forward foreign exchange rate contracts 13 679 10 779 151 96 – 165 – 75 Commodity purchase contract 11 9 8 6 Options on equity securities 70 269 – 29 – 110 Total derivative financial instruments included in marketable securities and in current financial debts 13 760 11 057 159 102 – 194 – 185 The following table shows by currency contract or underlying principal amount the derivative financial instruments at December 31, 2020 and 2019: 2020 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 2 432 6 376 4 871 13 679 Commodity purchase contract 11 11 Options on equity securities 70 70 Total derivative financial instruments 2 432 6 457 4 871 13 760 2019 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 1 373 7 760 1 646 10 779 Commodity purchase contract 9 9 Options on equity securities 250 19 269 Total derivative financial instruments 1 373 8 019 1 665 11 057 Derivative financial instruments effective for hedge accounting purposes At the end of 2020 and 2019, there were no open hedging instruments for anticipated transactions. Fair value by hierarchy As required by IFRS, financial assets and liabilities recorded at fair value in the consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. There are three hierarchical levels, based on increasing subjectivity associated with the inputs to derive fair valuation for these assets and liabilities, which are as follows: The assets carried at Level 1 fair value are equity and debt securities listed in active markets. The assets generally included in Level 2 fair value hierarchy are foreign exchange and interest rate derivatives, and certain debt securities. Foreign exchange and interest rate derivatives are valued using corroborated market data. The liabilities generally included in this fair value hierarchy consist of foreign exchange and interest rate derivatives. Level 3 inputs are unobservable for the asset or liability. The assets generally included in Level 3 fair value hierarchy are various investments in hedge funds and unquoted equity security investments. Contingent consideration carried at fair value is included in this category. 2020 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Debt securities 26 26 Total marketable securities 26 26 Derivative financial instruments 159 159 Total marketable securities and derivative financial instruments 185 185 Debt and equity securities 1 153 460 1 613 Fund investments 366 366 Contingent consideration receivables 625 625 Total long-term financial investments 1 153 1 451 2 604 Associated companies at fair value through profit and loss 211 211 Financial liabilities Contingent consideration payables – 1 046 – 1 046 Other financial liabilities – 23 – 23 Derivative financial instruments – 194 – 194 Total financial liabilities at fair value – 194 – 1 069 – 1 263 2019 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Debt securities 24 24 Fund investments 37 37 Total marketable securities 37 24 61 Derivative financial instruments 102 102 Total marketable securities and derivative financial instruments 37 126 163 Debt and equity securities 976 581 1 557 Fund investments 233 233 Contingent consideration receivables 399 399 Total long-term financial investments 976 1 213 2 189 Associated companies at fair value through profit and loss 186 186 Financial liabilities Contingent consideration payables – 1 036 – 1 036 Other financial liabilities – 29 – 29 Derivative financial instruments – 185 – 185 Total financial liabilities at fair value – 185 – 1 065 – 1 250 The change in carrying values associated with Level 3 financial instruments, using significant unobservable inputs during the year ended December 31, is set forth below: 2020 Associated January 1 186 233 581 399 – 1 036 – 29 Fair value gains and other adjustments, Fair value losses (including impairments and Fair value adjustments recognized in the consolidated statement Purchases 24 17 123 43 – 123 Cash receipts and payments – 30 63 11 Disposals – 23 – 61 – 109 Reclassification – 19 31 – 163 – 4 December 31 211 366 460 625 – 1 046 – 23 Total of fair value gains and losses recognized 2019 Associated January 1 145 251 488 396 – 907 – 10 Impact from discontinued operations 1 – 28 – 19 163 Fair value gains and other adjustments, Fair value losses (including impairments and Fair value adjustments recognized in the consolidated statement Purchases 49 28 229 – 401 – 5 Cash receipts and payments – 32 3 33 Disposals – 3 – 30 – 53 Reclassification 10 – 64 December 31 186 233 581 399 – 1 036 – 29 Total of fair value gains and losses recognized 1 During 2020, there were several individually non-significant transfers of financial investments from Level 3 to Level 1 for USD 166 million (2019: USD 64 million), mainly due to initial public offerings of the invested companies. Realized gains and losses associated with Level 3 long-term financial investments measured at fair value through the consolidated income statement are recorded in the consolidated income statement under “Other income” or “Other expense,” respectively. Realized gains and losses associated with Level 3 long-term financial investments measured at fair value through other comprehensive income are not recycled through the consolidated income statement but are instead reclassified to retained earnings. During the year, the net loss and net gain recorded on associated companies, fund investments and long-term financial investments at fair value through profit and loss were USD 92 million and USD 427 million, respectively. If the pricing parameters for the Level 3 input were to change for associated companies at fair value through profit and loss, fund investments and long-term financial investments by 10% positively or negatively, this would change the amounts recorded in the 2020 consolidated statement of comprehensive income by USD 104 million. To determine the fair value of a contingent consideration, various unobservable inputs are used. A change in these inputs might result in a significantly higher or lower fair value measurement. The inputs used are, among others, the probability of success, sales forecast and assumptions regarding the discount rate and timing and different scenarios of triggering events. The inputs are interrelated. The significance and usage of these inputs to each contingent consideration may vary due to differences in the timing and triggering events for payments or in the nature of the asset related to the contingent consideration. If the most significant parameters for the Level 3 input were to change by 10% positively or negatively, or where the probability of success (POS) is the most significant input parameter, 10% were added or deducted from the applied probability of success, for contingent consideration payables, other financial liabilities and contingent consideration receivables, this would change the amounts recorded in the 2020 consolidated income statement by USD 260 million and USD 324 million, respectively. Equity securities measured at fair value through other comprehensive income Equity securities held as strategic investments, typically held outside the Novartis Venture Fund, are generally designated at date of acquisition as financial assets valued at fair value through other comprehensive income with no subsequent recycling through profit and loss. Except for the investment in Alcon Inc. with a fair value of USD 71 million at December 31, 2020 (2019: USD 382 million), these are made up of individually non-significant investments. At December 31, 2020, the Group holds 56 non-listed equity securities (December 31, 2019: 53) and 34 listed equity securities (December 31, 2019: 29) in this category with the following fair values: (USD millions) 2020 2019 Listed equity securities 862 843 Non-listed equity securities 249 315 Total equity securities 1 111 1 158 There were no dividends recognized during 2020 and 2019 from these equity securities. In 2020, in accordance with the consolidated foundations Alcon Inc. shares divestment plans, Alcon Inc. shares with a fair value of USD 331 million were sold (2019: USD 976 million), and the USD 13 million gain on disposal (2019: USD 62 million gain) was transferred from other comprehensive income to retained earnings during 2020. In addition, in 2020, equity securities that were no longer considered strategic, with a fair value of USD 206 million (2019: USD 33 million), were sold, and the USD 137 million gain on disposal (2019: USD 33 million gain) was transferred from other comprehensive income to retained earnings (see Note 8). Nature and extent of risks arising from financial instruments Market risk Novartis is exposed to market risk, primarily related to foreign currency exchange rates, interest rates, and the market value of the investments of liquid funds. The Group actively monitors and seeks to reduce, where it deems it appropriate to do so, fluctuations in these exposures. It is the Group’s policy and practice to enter into a variety of derivative financial instruments to manage the volatility of these exposures and to enhance the yield on the investment of liquid funds. It does not enter into any financial transactions containing a risk that cannot be quantified at the time the transaction is concluded. In addition, it does not sell short assets it does not have, or does not know it will have, in the future. The Group only sells existing assets or enters into transactions and future transactions (in the case of anticipatory hedges) that it confidently expects it will have in the future, based on past experience. In the case of liquid funds, the Group writes call options on assets it has, or writes put options on positions it wants to acquire and has the liquidity to acquire. The Group expects that any loss in value for these instruments generally would be offset by increases in the value of the underlying transactions. Foreign currency exchange rate risk The Group uses the US dollar as its reporting currency. As a result, the Group is exposed to foreign currency exchange movements, primarily in European, Japanese and emerging market currencies. Fluctuations in the exchange rates between the US dollar and other currencies can have a significant effect on both the Group’s results of operations, including reported sales and earnings, as well as on the reported value of our assets, liabilities and cash flows. This, in turn, may significantly affect the comparability of period-to-period results of operations. Because our expenditures in Swiss francs are significantly higher than our revenues in Swiss francs, volatility in the value of the Swiss franc can have a significant impact on the reported value of our earnings, assets and liabilities, and the timing and extent of such volatility can be difficult to predict. There is also a risk that certain countries could devalue their currency. If this occurs, it could impact the effective prices we would be able to charge for our products and also have an adverse impact on both our consolidated income statement and balance sheet. Subsidiaries whose functional currencies have experienced a cumulative inflation rate of more than 100% over the past three years apply the rules of IAS 29 “Financial reporting in Hyperinflationary Economies”. The hyperinflationary economies in which Novartis operates are Argentina and Venezuela. Venezuela was hyperinflationary for all years presented, and Argentina became hyperinflationary effective July 1, 2018, requiring retroactive implementation of hyperinflation accounting as of January 1, 2018. The impacts of applying IAS 29 were not significant in all years presented. The Group manages its global currency exposure by engaging in hedging transactions where management deems appropriate. Novartis may enter into various contracts that reflect the changes in the value of foreign currency exchange rates to preserve the value of assets, commitments and anticipated transactions. Novartis also uses forward contracts and foreign currency option contracts to hedge. Net investments in subsidiaries in foreign countries are long-term investments. Their fair value changes through movements of foreign currency exchange rates. The Group has designated a certain portion of its long-term euro-denominated straight bonds as hedges of the translation risk arising on certain of these net investments in foreign operations with euro functional currency. As of December 31, 2020, long-term financial debt with a carrying amount of EUR 1.8 billion (USD 2.3 billion) (December 31, 2019: USD 2.1 billion), has been designated as a hedge instrument. During 2020, USD 201 million of unrealized loss (unrealized income in 2019: USD 44 million) was recognized in other comprehensive income and accumulated in currency translation effects in relation with this net investment hedge. The hedge remained effective since inception, and no amount was recognized in the consolidated income statement in 2020, 2019 and 2018. Commodity price risk The Group has only a very limited exposure to price risk related to anticipated purchases of certain commodities used as raw materials by the Group’s businesses. A change in those prices may alter the gross margin of a specific business, but generally by not more than 10% of the margin and thus below the Group’s risk management tolerance levels. Accordingly, the Group does not enter into significant commodity futures, forward or option contracts to manage fluctuations in prices of anticipated purchases. Interest rate risk The Group addresses its net exposure to interest rate risk mainly through the ratio of its fixed-rate financial debt to variable-rate financial debt contained in its total financial debt portfolio. To manage this mix, Novartis may enter into interest rate swap agreements, in which it exchanges periodic payments based on a notional amount and agreed-upon fixed and variable interest rates. Equity risk The Group may purchase equities as investments of its liquid funds. As a policy, it limits its holdings in an unrelated company to less than 5% of its liquid funds. Potential investments are thoroughly analyzed. Call options are written on equities that the Group owns, and put options are written on equities that the Group wants to buy and for which cash is available. Credit risk Credit risks arise from the possibility that customers may not be able to settle their obligations as agreed. To manage this risk, the Group periodically assesses country and customer credit risk, assigns individual credit limits, and takes actions to mitigate credit risk where appropriate. The provisions for expected credit losses for customers are based on a forward-looking expected credit loss, which includes possible default events on the trade receivables over the entire holding period of the trade receivables. In measuring the expected credit losses, trade receivables are grouped based on shared credit risk characteristics (such as private versus public receivables) and days past due. In determining the expected credit loss rates, the Group considers current and forward-looking macroeconomic factors that may affect the ability of the customers to settle the receivables, and historical loss rates for each category of customers. The Group’s largest customer accounted for approximately 17% of net sales, and the second largest and third largest customers accounted for 11% and 6% of net sales, respectively (2019: 18%, 13% and 8%, respectively; 2018: 18%, 14% and 8%, respectively). The highest amounts of trade receivables outstanding were for these same three customers and amounted to 14%, 12% and 6%, respectively, of the Group’s trade receivables at December 31, 2020 (2019: 14%, 12% and 7%, respectively). There is no other significant concentration of customer credit risk. Counterparty risk Counterparty risk encompasses issuer risk on marketable securities and money market instruments; credit risk on cash, time deposits and derivatives; as well as settlement risk for different instruments. Issuer risk is reduced by only buying securities that are at least A- rated. Counterparty credit risk and settlement risk are reduced by a policy of entering into transactions with counterparties (banks or financial institutions) that feature a strong credit rating. Exposure to these risks is closely monitored and kept within predetermined parameters. The limits are regularly assessed and determined based upon credit analysis, including financial statement and capital adequacy ratio reviews. In addition, reverse repurchasing agreements are contracted, and Novartis has entered into credit support agreements with various banks for derivative transactions. To further reduce the settlement risk, the Group has implemented a multi-currency system, CLS (Continuous Linked Settlement), providing multilateral netting (payment-versus-payment settlement) of cash flows from foreign exchange transactions. The Group’s cash and cash equivalents are held with major regulated financial institutions; the three largest ones hold approximately 14.1%, 12.6% and 9.7%, respectively (2019: 12.6%, 10.4% and 8.3%, respectively). The Group does not expect any losses from non-performance by these counterparties and does not have any significant grouping of exposures to financial sector or country risk. Liquidity risk Liquidity risk is defined as the risk that the Group could not be able to settle or meet its obligations associated with financial liabilities that are settled by delivering cash or another financial asset. Group Treasury is responsible for liquidity, funding and settlement management. In addition, liquidity and funding risks, and related processes and policies, are overseen by management. Novartis manages its liquidity risk on a consolidated basis according to business needs and tax, capital or regulatory considerations, if applicable, through numerous sources of financing in order to maintain flexibility. Certain countries have legal or economic restrictions on the ability of subsidiaries to transfer funds to the Group in the form of cash dividends, loans or advances, but these restrictions do not have an impact on the ability of the Group to meet its cash obligations. Management monitors the Group’s net debt or liquidity position through rolling forecasts on the basis of expected cash flows. Novartis has two US commercial paper programs under which it can issue up to USD 9.0 billion in the aggregate of unsecured commercial paper notes. Novartis also has a Japanese commercial paper program under which it can issue up to JPY 150 billion (approximately USD 1.5 billion) of unsecured commercial paper notes. Commercial paper notes totaling USD 4.3 billion under these three programs were outstanding as per December 31, 2020 (2019: USD 2.3 billion). Novartis further has a committed credit facility of USD 6.0 billion, which was renewed in September 2019. This credit facility is provided by a syndicate of banks and is intended to be used as a backstop for the US commercial paper programs. The facility matures in September 2024 and was undrawn as per December 31, 2020, and December 31, 2019. In December 2019, Novartis entered into a short-term credit facility of USD 7 billion, with a maturity date of June 30, 2020 with a syndicate of banks. On January 7, 2020, Novartis borrowed USD 7 billion under the facility with interest based on the USD LIBOR. On February 14, 2020, Novartis repaid the full USD 7 billion initially borrowed. The facility expired on June 30, 2020. The following table sets forth how management monitors net debt or liquidity based on details of the remaining contractual maturities of current financial assets and liabilities, excluding trade receivables and payables as well as contingent considerations at December 31, 2020, and December 31, 2019: 2020 Due later than Due later than Due later than Current assets Marketable securities, time deposits and short-term Commodities 111 111 Derivative financial instruments and accrued interest 38 110 4 4 3 159 Cash and cash equivalents 8 558 1 100 9 658 Total current financial assets 8 609 2 781 29 9 135 11 563 Non-current liabilities Financial debt – 10 621 – 15 638 – 26 259 Financial debt - undiscounted – 10 661 – 15 802 – 26 463 Total non-current financial debt – 10 621 – 15 638 – 26 259 Current liabilities Financial debt – 4 195 – 2 218 – 3 178 – 9 591 Financial debt - undiscounted – 4 195 – 2 219 – 3 179 – 9 593 Derivative financial instruments – 93 – 84 – 17 – 194 Total current financial debt – 4 288 – 2 302 – 3 195 – 9 785 Net debt 4 321 479 – 3 166 – 10 612 – 15 503 – 24 481 2019 Due later than Due later than Due later than Current assets Marketable securities, time deposits and short-term Commodities 110 110 Derivative financial instruments and accrued interest 14 79 3 3 3 102 Cash and cash equivalents 9 712 1 400 11 112 Total current financial assets 9 746 1 505 19 6 170 11 446 Non-current liabilities Financial debt – 9 110 – 11 243 – 20 353 Financial debt - undiscounted – 9 150 – 11 355 – 20 505 Total non-current financial debt – 9 110 – 11 243 – 20 353 Current liabilities Financial debt – 4 243 – 1 373 – 1 230 – 6 846 Financial debt - undiscounted – 4 243 – 1 373 – 1 230 – 6 846 Derivative financial instruments – 130 – 29 – 26 – 185 Total current financial debt – 4 373 – 1 402 – 1 256 – 7 031 Net debt 5 373 103 – 1 237 – 9 104 – 11 073 – 15 938 The consolidated balance sheet amounts of financial liabilities included in the above analysis are not materially different to the contractual amounts due on maturity. The positive and negative fair values on derivative financial instruments represent the net contractual amounts to be exchanged at maturity. The Group’s contractual undiscounted potential cash flows from derivative financial instruments to be settled on a gross basis are as follows: 2020 Due later than Due later than Derivative financial instruments and accrued interest on derivative financial instruments Potential outflows in various currencies - from financial derivative liabilities – 930 – 4 096 – 719 – 5 745 Potential inflows in various currencies - from financial derivative assets 904 4 114 710 5 728 2019 Due later than Due later than Derivative financial instruments and accrued interest on derivative financial instruments Potential outflows in various currencies - from financial derivative liabilities – 814 – 4 624 – 952 – 6 390 Potential inflows in various currencies - from financial derivative assets 807 4 656 922 6 385 Other contractual liabilities that are not part of management’s monitoring of the net debt or liquidity consist of the following items: 2020 Due later than Due later than Contractual interest on non-current liabilities – 82 – 468 – 1 846 – 4 251 – 6 647 Lease liabilities – 77 – 209 – 692 – 1 027 – 2 005 Trade payables – 5 239 – 164 – 5 403 Commitment for repurchase of own shares – 1 769 – 1 769 Contingent consideration liabilities – 24 – 38 – 639 – 345 – 1 046 2019 Due later than Due later than Contractual interest on non-current liabilities – 36 – 428 – 1 531 – 3 439 – 5 434 Lease liabilities – 65 – 181 – 622 – 1 081 – 1 949 Trade payables – 5 222 – 202 – 5 424 Contingent consideration liabilities – 62 – 9 – 582 – 383 – 1 036 Capital risk management Novartis strives to maintain a strong credit rating. In managing its capital, Novartis focuses on maintaining a strong balance sheet. As of December 31, 2020, Moody’s Investor Service rated the Company A1 for long-term maturities and P-1 for short-term maturities and S&P Global Ratings rated the company AA- for long-term maturities and A-1+ for short-term maturities. Value at risk The Group uses a value at risk (VAR) computation to estimate the potential 10-day loss in the fair value of its financial instruments. A 10-day period is used because of an assumption that not all positions could be undone in one day given the size of the positions. The VAR computation includes all financial assets and financial liabilities as set forth in the table on page F-69, except: • Trade receivables • Other current assets • Long-term loans and receivables, advances and security deposits • Contingent considerations • Lease liabilities • Commitment for repurchase of own shares • Trade payables The VAR estimates are made assuming normal market conditions, using a 95% confidence interval. The Group uses a “Delta Normal” model to determine the observed interrelationships between movements in interest rates, stock markets and various currencies. These interrelationships are determined by observing interest rate movements, stock market movements and foreign currency rate movements over a 60-day period for the calculation of VAR amounts. The estimated potential 10-day loss in the fair value of the Group’s foreign currency positions (including foreign exchange translation risk), the estimated potential 10-day loss of its equity holdings, and the estimated potential 10-day loss in fair value of its interest rate-sensitive instruments (primarily financial debt and investments of liquid funds under normal market conditions), as calculated in the VAR model, are the following: (USD millions) 2020 2019 All financial instruments 587 355 Analyzed by components: Instruments sensitive to foreign Instruments sensitive to equity Instruments sensitive to interest rates 197 187 The average, high and low VAR amounts are as follows: 2020 (USD millions) Average High Low All financial instruments 568 659 322 Analyzed by components: Instruments sensitive to foreign Instruments sensitive to equity Instruments sensitive to 2019 (USD millions) Average High Low All financial instruments 348 385 303 Analyzed by components: Instruments sensitive to foreign Instruments sensitive to equity Instruments sensitive to The VAR computation is a risk analysis tool designed to statistically estimate the potential 10-day loss from adverse movements in foreign currency exchange rates, equity prices and interest rates under normal market conditions. The computation does not purport to represent actual losses in fair value on earnings to be incurred by the Group, nor does it consider the effect of favorable changes in market rates. The Group cannot predict actual future movements in such market rates, and it does not claim that these VAR results are indicative of future movements in such market rates or are representative of any actual impact that future changes in market rates may have on the Group’s future results of operations or financial position. |
Discontinued operations
Discontinued operations | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of discontinued operations [abstract] | |
Disclosure of discontinued operations [text block] | 30. Discontinued operations Discontinued operations include the operational results from the Alcon eye care devices business and certain Corporate activities attributable to the Alcon business prior to the spin-off, the gain on distribution of Alcon Inc. to Novartis AG shareholders, and certain other expenses related to the Distribution (refer to Notes 1 and 2 for further details). The Alcon eye care devices business researched, discovered, developed, manufactured, distributed and sold a broad range of eye care products. Alcon was organized into two global business franchises, Surgical and Vision Care. Alcon also provided services, training, education and technical support for both the Surgical and Vision Care businesses. Consolidated income statement (USD millions) 2019 1 2018 Net sales to third parties from Sales to continuing segments 32 4 Net sales from discontinued operations 1 809 7 153 Cost of goods sold – 860 – 3 983 Gross profit from discontinued operations 949 3 170 Selling, general and administration – 638 – 2 754 Research and development – 142 – 585 Other income 15 61 Other expense – 113 – 126 Operating income/(loss) from discontinued operations 71 – 234 Interest expense – 10 – 25 Other financial income and expense – 3 – 1 Income/(loss) before taxes from discontinued operations 58 – 260 Taxes – 159 74 Net loss from discontinued operations Gain on distribution of Alcon Inc. to Novartis AG shareholders 2 4 691 Net income/(loss) from discontinued operations 4 590 – 186 1 2 Supplemental disclosures related to the Alcon business distributed to Novartis AG shareholders Additional significant accounting policies The accounting policies mentioned in Note 1 were used for the reporting of discontinued operations. The following additional significant accounting policies were applicable to discontinued operations. Intangible assets available for use In addition to currently marketed products, technologies and other intangible assets (including computer software), discontinued operations intangible assets available for use also included marketing know-how and the Alcon brand name. Marketing know-how represents the value attributable to the expertise acquired for marketing and distributing Alcon surgical products. The Alcon brand name was shown separately, as it was the only Novartis intangible asset that was available for use with an indefinite useful life. Novartis considers that it was appropriate that the Alcon brand name had an indefinite life since Alcon-branded products had a history of strong revenue and cash flow performance, and Novartis had the intent and ability to support the brand with spending to maintain its value for the foreseeable future. The Alcon brand name was not amortized as it had an indefinite useful life, but was evaluated for potential impairment annually. The following table shows the respective useful lives for available-for-use intangible assets and the location in the consolidated income statement in which the respective amortization and any potential impairment charge were recognized: Income statement location Marketing know-how 25 years "Cost of goods sold" Alcon brand name Not amortized, "Other expense" The estimates used in calculating the net present values are highly sensitive and depend on assumptions specific to the nature of the activities and more specifically on appropriate royalty rate for the Alcon brand name. Revenue recognition In the Alcon Division, which is reported as discontinued operations, surgical equipment may have been sold together with other products and services under a single contract. Revenues were recognized upon satisfaction of each of the performance obligations in the contract and the consideration was allocated based on the standalone selling price of each performance obligation. For surgical equipment, in addition to cash and installment sales, revenue was recognized under finance and operating lease arrangements. Arrangements in which substantially all the risks and rewards incidental to ownership transfers to the customer were treated as finance lease arrangements. Revenue from finance lease arrangements was recognized at amounts equal to the fair value of the equipment, which approximated the present value of the minimum lease payments under the arrangements. As interest rates embedded in lease arrangements were approximately market rates, revenue under finance lease arrangements was comparable to revenue for outright sales. Finance income for arrangements longer than 12 months was deferred and subsequently recognized based on a pattern that approximated to the use of the effective interest method and was recorded in “Other income.” Operating lease revenue for equipment rentals was recognized on a straight-line basis over the lease term. Net income Included in net income from discontinued operations are: (USD millions) 2019 2018 Interest income 2 Depreciation of property, plant and equipment – 42 – 235 Depreciation of right-of-use assets – 9 Amortization of intangible assets – 174 – 1 052 Impairment charges on property, plant and equipment – 3 Impairment charges on intangible assets 1 – 391 Additions to restructuring provisions – 13 Equity-based compensation of Novartis equity plans – 9 – 93 1 Balance sheet The following were in the balance sheet from discontinued operations for the period from January 1, 2019, to the date of reclassification: (USD millions) 2019 Additions to property, plant and equipment 113 Additions to right-of-use assets 3 Additions to goodwill and intangible assets 36 Cash flows used in investing activities from discontinued operations Cash flows used in investing activities from discontinued operations include the investing activities of the Alcon business and cash outflows for transaction-related expenditures attributable to the series of portfolio transformation transactions completed in 2015. (USD millions) 2020 2019 2018 Payments attributable Divested cash and cash equivalents – 628 Cash flows attributable to the spin-off of the Alcon business – 39 – 657 Other cash flows used in investing activities, net – 88 – 502 – 1 001 Net cash flows used in investing activities from discontinued operations – 127 – 1 159 – 1 001 Cash flows from financing activities from discontinued operations In 2020, the net cash outflows used in financing activities from discontinued operations of USD 50 million was for transaction cost payments directly attributable to the distribution (spin-off) of the Alcon business to Novartis AG shareholders. In 2019, the net cash inflows from financing activities from discontinued operations of USD 3.3 billion (2018: USD 167 million net cash outflows) included mainly USD 3.5 billion (2018: nil) cash inflows from Alcon borrowings in connection with the distribution (spin-off) of the Alcon business to Novartis AG shareholders, partly offset by USD 0.2 billion (2018: USD 0.1 billion) transaction cost payments directly attributable to the distribution (spin-off) of the Alcon business to Novartis AG shareholders (see Notes 1 and 2). Leases The lease liabilities recorded in discontinued operations on January 1, 2019, the date of implementation of IFRS 16 Leases (see Note 1), were USD 286 million, and the right-of-use assets were USD 276 million, including USD 89 million and USD 75 million, respectively, for the previously reported finance lease obligations. For discontinued operations, there were no impairments or significant contract terminations of right-of-use assets for the period from January 1, 2019, to February 28, 2019, the date of shareholder approval for the Alcon spin-off. Net assets derecognized The following table presents the Alcon business net assets at the date of spin-off at April 8, 2019: (USD millions) 2019 Property, plant and equipment 2 858 Right-of-use assets 269 Goodwill 8 906 Intangible assets other than goodwill 11 121 Deferred tax assets 732 Financial and other non-current assets 526 Inventories 1 469 Trade receivables and other current assets 1 787 Cash and cash equivalents 628 Deferred tax liabilities – 1 713 Current and non-current lease liabilities – 269 Current and non-current financial debts – 3 538 Trade payables, provisions and other liabilities – 2 751 Net assets derecognized 20 025 Defined contribution plans In many subsidiaries, associates are covered by defined contribution plans. Contributions charged to the consolidated income statement for the defined contribution plans were: (USD millions) 2019 2018 Contributions for defined contribution plans discontinued operations 33 104 Significant transactions In March 2019, Alcon acquired PowerVision, Inc. (PowerVision), a privately held, US-based medical device development company focused on developing accommodative, implantable intraocular lenses. The fair value of the total purchase consideration was USD 424 million. The amount consisted of an initial cash payment of USD 289 million and the fair value of the contingent consideration of USD 135 million, due to PowerVision shareholders, which they are eligible to receive upon the achievement of specified regulatory and commercialization milestones. The purchase price allocation resulted in net identifiable assets of USD 418 million, consisting of intangible assets of USD 505 million, net deferred tax liabilities of USD 93 million, other net assets of USD 6 million, and goodwill of USD 6 million. The 2019 results of operations since the date of the acquisition were not material. For additional information related to the distribution (spin-off) of the Alcon business to Novartis AG shareholders, effected through a dividend in kind distribution that was completed on April 8, 2019, refer to Note 1 and Note 2. |
Events subsequent to the Decemb
Events subsequent to the December 31 consolidated balance sheet date | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Events subsequent to the December 31 consolidated balance sheet date | 31. Events subsequent to the December 31, 2020, consolidated balance sheet date Significant transactions not closed as of January 25, 2021 In November 2020 and in January 2021, Novartis entered into long-term research and development agreements, both of which did not close as of January 25, 2021. For additional information see Note 28. Significant transaction closed in January 2021 In December 2020, Novartis entered into a business acquisition agreement that closed on January 21, 2021, with an estimated fair value purchase price of USD 235 million. Dividend proposal for 2020 and approval of the Group’s 2020 consolidated financial statements On January 25, 2021, the Novartis AG Board of Directors proposed the acceptance of the 2020 consolidated financial statements of the Novartis Group for approval by the Annual General Meeting on March 2, 2021. Furthermore, also on January 25, 2021, the Board proposed a dividend of CHF 3.00 per share to be approved at the Annual General Meeting on March 2, 2021. If approved, total dividend payments would amount to approximately USD 7.7 billion (2019: USD 7.0 billion), using the CHF/USD December 31, 2020, exchange rate. |
Principal Group subsidiaries an
Principal Group subsidiaries and associated companies | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of subsidiaries [abstract] | |
Principal Group subsidiaries and associated companies | 32. Principal Group subsidiaries and associated companies The following table lists the principal subsidiaries controlled by Novartis, associated companies in which Novartis is deemed to have significant influence, and foundations required to be consolidated under IFRS. It includes all subsidiaries, associated companies and consolidated foundations with total assets or net sales to third parties in excess of USD 25 million. The equity interest percentage shown in the table also represents the share in voting rights in those entities, except where explicitly noted. Share 1 Equity Algeria Société par actions SANDOZ Algiers DZD 650.0 m 100% Argentina Novartis Argentina S.A. Buenos Aires ARS 906.1 m 100% Australia Novartis Australia Pty Ltd Macquarie Park, NSW AUD 2 100% Novartis Pharmaceuticals Australia Pty Ltd Macquarie Park, NSW AUD 3.8 m 100% Sandoz Pty Ltd Macquarie Park, NSW AUD 11.6 m 100% Austria Novartis Austria GmbH Vienna EUR 1.0 m 100% Novartis Pharma GmbH Vienna EUR 1.1 m 100% Sandoz GmbH Kundl EUR 32.7 m 100% EBEWE Pharma Ges.m.b.H Nfg. KG Unterach am Attersee EUR 1.0 m 100% Bangladesh Novartis (Bangladesh) Limited Gazipur BDT 162.5 m 60% Belgium Novartis Pharma NV Vilvoorde EUR 7.1 m 100% Sandoz NV Vilvoorde EUR 19.2 m 100% Alcon - Couvreur NV Puurs EUR 110.6 m 100% Bermuda Novartis Investment Ltd. Hamilton USD 12 000 100% Novartis Securities Investment Ltd. Hamilton CHF 30 000 100% Novartis Finance Services Ltd. Hamilton CHF 20 000 100% Triangle International Reinsurance Limited Hamilton CHF 1.0 m 100% Trinity River Insurance Co Ltd. Hamilton USD 370 000 100% Brazil Novartis Biociências S.A. São Paulo BRL 265.0 m 100% Sandoz do Brasil Indústria Farmacêutica Ltda. Cambé, PR BRL 190.0 m 100% Canada Novartis Pharmaceuticals Canada Inc. Dorval, Quebec CAD 1.2 m 100% Sandoz Canada Inc. Boucherville, Quebec CAD 80.8 m 100% Sandoz Manufacturing Inc. Boucherville, Quebec CAD 100 100% Chile Novartis Chile S.A. Santiago de Chile CLP 2.0 bn 100% China Beijing Novartis Pharma Co., Ltd. Beijing USD 30.0 m 100% Novartis Pharmaceuticals (HK) Limited Hong Kong HKD 200 100% China Novartis Institutes for BioMedical Research Co., Ltd. Shanghai USD 320.0 m 100% Suzhou Novartis Technical Development Co., Ltd. Changshu USD 12.0 m 100% Shanghai Novartis Trading Ltd. Shanghai USD 3.2 m 100% Sandoz (China) Pharmaceutical Co., Ltd. Zhongshan USD 57.6 m 100% Colombia Novartis de Colombia S.A. Santafé de Bogotá COP 7.9 bn 100% Croatia Sandoz d.o.o. farmaceutska industrija Zagreb HRK 25.6 m 100% Czech Republic Novartis s.r.o. Prague CZK 51.5 m 100% Sandoz s.r.o. Prague CZK 44.7 m 100% Denmark Novartis Healthcare A/S Copenhagen DKK 14.0 m 100% Sandoz A/S Copenhagen DKK 12.0 m 100% Ecuador Novartis Ecuador S.A. Quito USD 4.0 m 100% Egypt Novartis Pharma S.A.E. Cairo EGP 193.8 m 99.77% Sandoz Egypt Pharma S.A.E. New Cairo City EGP 250 000 100% Finland Novartis Finland Oy Espoo EUR 459 000 100% Share 1 Equity France Novartis Groupe France S.A. Rueil-Malmaison EUR 903.0 m 100% Novartis Pharma S.A.S. Rueil-Malmaison EUR 43.4 m 100% Advanced Accelerator Applications S.A. Saint-Genis-Pouilly EUR 76 734 99.2% CELLforCURE Les Ulis EUR 4.2 m 100% Sandoz S.A.S. Levallois-Perret EUR 5.4 m 100% Germany Novartis Deutschland GmbH Nuremberg EUR 155.5 m 100% Novartis Business Services GmbH Wehr EUR 25 000 100% Novartis Pharma GmbH Nuremberg EUR 25.6 m 100% Novartis Pharma Produktions GmbH Wehr EUR 2.0 m 100% Sandoz International GmbH Holzkirchen EUR 100 000 100% 1 A Pharma GmbH Oberhaching EUR 26 000 100% HEXAL AG Holzkirchen EUR 93.7 m 100% Salutas Pharma GmbH Barleben EUR 42.1 m 100% Aeropharm GmbH Rudolstadt EUR 26 000 100% Greece Novartis (Hellas) S.A.C.I. Metamorphosis / Athens EUR 233.9 m 100% Hungary Novartis Hungary Healthcare Limited Liability Company Budapest HUF 545.6 m 100% Sandoz Hungary Limited Liability Company Budapest HUF 883.0 m 100% India Novartis India Limited Mumbai INR 123.5 m 70.68% Novartis Healthcare Private Limited Mumbai INR 60.0 m 100% Sandoz Private Limited Mumbai INR 32.0 m 100% Indonesia PT. Novartis Indonesia Jakarta IDR 7.7 bn 100% Ireland Novartis Ireland Limited Dublin EUR 25 000 100% Novartis Integrated Services Limited Ringaskiddy, County Cork EUR 100 100% Novartis Ringaskiddy Limited Ringaskiddy, County Cork EUR 2.0 m 100% Novartis Gene Therapies EU Limited Dublin EUR 100 100% Israel Novartis Israel Ltd. Tel Aviv ILS 1 000 100% Italy Novartis Farma S.p.A. Origgio EUR 18.2 m 100% Advanced Accelerator Applications (Italy) S.r.l. Pozzilli EUR 119 000 99.2% Sandoz S.p.A. Origgio EUR 1.7 m 100% Japan Novartis Pharma K.K. Tokyo JPY 6.0 bn 100% Ciba-Geigy Japan Limited Tokyo JPY 8.5 bn 100% Sandoz K.K. Tokyo JPY 100.0 m 100% Aspen Japan K.K. Tokyo JPY 2.2 bn 100% Latvia Novartis Baltics SIA Riga EUR 3.0 m 100% Luxembourg Novartis Investments S.à r.l. Luxembourg City USD 100.0 m 100% Novartis Finance S.A. Luxembourg City USD 100 000 100% Malaysia Novartis Corporation (Malaysia) Sdn. Bhd. Kuala Lumpur MYR 3.3 m 100% Mexico Novartis Farmacéutica, S.A. de C.V. Mexico City MXN 205.0 m 100% Sandoz, S.A. de C.V. Mexico City MXN 468.2 m 100% Morocco Novartis Pharma Maroc SA Casablanca MAD 80.0 m 100% Netherlands Novartis Netherlands B.V. Amsterdam EUR 1.4 m 100% Novartis Pharma B.V. Amsterdam EUR 4.5 m 100% IDB Holland BV Baarle-Nassau EUR 18 000 99.2% Sandoz B.V. Almere EUR 907 560 100% New Zealand Novartis New Zealand Ltd Auckland NZD 820 000 100% Share 1 Equity Norway Novartis Norge AS Oslo NOK 1.5 m 100% Pakistan Novartis Pharma (Pakistan) Limited Karachi PKR 6.7 bn 99.99% Panama Novartis Pharma (Logistics), Inc. Panama City USD 10 000 100% Peru Novartis Biosciences Perú S.A. Lima PEN 6.1 m 100% Philippines Novartis Healthcare Philippines, Inc. Makati City PHP 298.8 m 100% Sandoz Philippines Corporation Makati City PHP 30.0 m 100% Poland Novartis Poland Sp. z o.o. Warsaw PLN 44.2 m 100% Sandoz Polska Sp. z o.o. Warsaw PLN 25.6 m 100% Lek S.A. Strykow PLN 11.4 m 100% Portugal Novartis Portugal, S.G.P.S., Lda. Porto Salvo EUR 500 000 100% Novartis Farma - Produtos Farmacêuticos, S.A. Porto Salvo EUR 2.4 m 100% Sandoz Farmacêutica, Lda. Porto Salvo EUR 499 900 100% Romania Novartis Pharma Services Romania S.R.L. Bucharest RON 3.0 m 100% Sandoz S.R.L. Targu-Mures RON 105.2 m 100% Russian Federation Novartis Pharma LLC Moscow RUB 20.0 m 100% Novartis Neva LLC St. Petersburg RUB 500.0 m 100% ZAO Sandoz Moscow RUB 57.4 m 100% Saudi Arabia Novartis Saudi Ltd. Riyadh SAR 30.0 m 100% Singapore Novartis (Singapore) Pte Ltd. Singapore SGD 100 000 100% Novartis Singapore Pharmaceutical Manufacturing Pte Ltd Singapore SGD 45.0 m 100% Novartis Asia Pacific Pharmaceuticals Pte Ltd Singapore SGD 39.0 m 100% Slovakia Novartis Slovakia s.r.o. Bratislava EUR 2.0 m 100% Slovenia Lek Pharmaceuticals d.d. Ljubljana EUR 48.4 m 100% Sandoz Pharmaceuticals d.d. Ljubljana EUR 1.5 m 100% South Africa Novartis South Africa (Pty) Ltd Midrand ZAR 86.3 m 100% Sandoz South Africa (Pty) Ltd Kempton Park ZAR 3.0 m 100% South Korea Novartis Korea Ltd. Seoul KRW 24.5 bn 98.55% Spain Novartis Farmacéutica, S.A. Barcelona EUR 63.0 m 100% Advanced Accelerator Applications Iberica, S.L.U. Barcelona EUR 22.6 m 99.2% Catalana de Dispensacion sau (Cadisa) Esplugues de Llobregat EUR 450 750 99.2% Sandoz Farmacéutica S.A. Madrid EUR 270 450 100% Sandoz Industrial Products S.A. Les Franqueses del Vallés / Barcelona EUR 9.3 m 100% Alcon Cusi, S.A. El Masnou / Barcelona EUR 10.1 m 100% Abadia Retuerta S.A. Sardón de Duero / Valladolid EUR 6.0 m 100% Sweden Novartis Sverige AB Stockholm SEK 5.0 m 100% Switzerland Novartis International AG Basel CHF 10.0 m 100% Novartis Holding AG Basel 3 CHF 100.2 m 100% Novartis International Pharmaceutical Investment AG Basel CHF 100 000 100% Novartis Bioventures AG Basel CHF 100 000 100% Novartis Forschungsstiftung Basel 4 -- -- -- Novartis Stiftung für Kaderausbildung Basel 4 -- -- -- Novartis Mitarbeiterbeteiligungsstiftung Basel 4 -- -- -- Novartis Stiftung für Mensch und Umwelt Basel 4 -- -- -- Stiftung der Novartis AG für Erziehung, Ausbildung und Bildung Basel 4 -- -- -- Novartis Overseas Investments AG Basel CHF 1.0 m 100% Japat AG Basel CHF 50 000 100% Novartis Pharma AG Basel 3 CHF 350.0 m 100% Novartis Pharma Services AG Basel CHF 20.0 m 100% Novartis Pharma Schweizerhalle AG Muttenz CHF 18.9 m 100% Novartis Pharma Stein AG Stein CHF 251 000 100% Novartis Pharma Schweiz AG Risch CHF 5.0 m 100% Novartis Ophthalmics AG Fribourg CHF 100 000 100% Advanced Accelerator Applications International SA Geneva CHF 9.3 m 99.2% Sandoz AG Basel CHF 5.0 m 100% Sandoz Pharmaceuticals AG Risch CHF 100 000 100% Roche Holding AG Basel CHF 160.0 m 33%/6% 2 Share 1 Equity Taiwan Novartis (Taiwan) Co., Ltd. Taipei TWD 170.0 m 100% Thailand Novartis (Thailand) Limited Bangkok THB 302.0 m 100% Turkey Novartis Saglik, Gida ve Tarim Ürünleri Sanayi ve Ticaret A.S. Istanbul TRY 98.0 m 100% Farmanova Saglik Hizmetleri Ltd. Sti. Istanbul TRY 6.7 m 100% Sandoz Ilaç Sanayi ve Ticaret A.S. Istanbul TRY 265.0 m 99.99% Sandoz Grup Saglik Ürünleri Ilaçlari Sanayi ve Ticaret A.S. Gebze - Kocaeli TRY 50.0 m 100% Ukraine Sandoz Ukraine LLC Kyiv UAH 8.0 m 100% United Arab Emirates Novartis Middle East FZE Dubai AED 7.0 m 100% United Kingdom Novartis UK Limited London GBP 25.5 m 100% Novartis Pharmaceuticals UK Limited London GBP 5.4 m 100% Novartis Grimsby Limited London GBP 250.0 m 100% Advanced Accelerator Applications (UK & Ireland) London GBP 100 99.2% Neutec Pharma Limited London GBP 7.7 m 100% Ziarco Group Limited London GBP 3 904 100% Sandoz Limited Frimley / Camberley GBP 2.0 m 100% Coalesce Product Development Limited Cambridge, Cambs GBP 6.0 m 40% United States of America Novartis Corporation East Hanover, NJ USD 72.2 m 100% Novartis Finance Corporation East Hanover, NJ 3 USD 1 000 100% Novartis Capital Corporation East Hanover, NJ USD 1 100% Novartis Services, Inc. East Hanover, NJ USD 1 100% Novartis US Foundation East Hanover, NJ 4 -- -- -- Novartis Pharmaceuticals Corporation East Hanover, NJ 3 USD 650 100% Advanced Accelerator Applications USA, Inc. Millburn, NJ USD 1 99.2% Novartis Gene Therapies, Inc. Bannockburn, IL USD 1 100% Novartis Technology LLC East Hanover, NJ -- -- -- Novartis Institutes for BioMedical Research, Inc. Cambridge, MA USD 1 100% Novartis Optogenetics Research, Inc. East Hanover, NJ USD 1 100% CoStim Pharmaceuticals Inc. Cambridge, MA USD 1 100% Endocyte, Inc. East Hanover, NJ USD 1 100% Navigate BioPharma Services, Inc. Carlsbad, CA USD 1 100% The Medicines Company East Hanover, NJ USD 1 000 100% Sandoz Inc. Princeton, NJ USD 25 000 100% Amblyotech Inc. East Hanover, NJ USD 50 100% Oriel Therapeutics, Inc. Durham, NC USD 50.0 m 100% Fougera Pharmaceuticals Inc. Melville, NY USD 1 100% Eon Labs, Inc. Princeton, NJ USD 1 100% Novartis Vaccines and Diagnostics, Inc. East Hanover, NJ USD 3 100% Venezuela Novartis de Venezuela, S.A. Caracas VES 14 100% Vietnam Novartis Vietnam Company Limited Ho Chi Minh City VND 70 bn 100% In addition, the Group is represented by subsidiaries and associated companies with total assets or net sales to third parties below USD 25 million in the following countries: Bosnia and Herzegovina, Bulgaria, Dominican Republic, Guatemala, Kenya, Kuwait, North Macedonia, Nigeria, Puerto Rico and Uruguay 1 2 3 4 m = million; bn = billion |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Statement [line items] | |
Scope of consolidation | Scope of consolidation The consolidated financial statements include all entities, including structured entities, over which Novartis AG, Basel, Switzerland, directly or indirectly has control (generally as a result of owning more than 50% of the entity’s voting interest). Consolidated entities are also referred to as “subsidiaries.” In cases where Novartis does not fully own a subsidiary, it has elected to value any remaining outstanding non-controlling interest at the time of acquiring control of the subsidiary at its proportionate share of the fair value of the net identified assets. The contribution of a business to an associate or joint venture is accounted for by applying the option under IFRS that permits the accounting for the retained interest of the business contributed at its net book value at the time of the contribution. Investments in associated companies (generally defined as investments in entities in which Novartis holds between 20% and 50% of voting shares or over which it otherwise has significant influence) and joint ventures are accounted for using the equity method, except for selected venture fund investments for which the Group has elected to apply the method of fair value through the consolidated income statement. |
Foreign currencies | Foreign currencies The consolidated financial statements of Novartis are presented in US dollars (USD). The functional currency of subsidiaries is generally the local currency of the respective entity. The functional currency used for the reporting of certain Swiss and foreign finance entities is USD instead of their respective local currencies. This reflects the fact that the cash flows and transactions of these entities are primarily denominated in these currencies. For subsidiaries not operating in hyperinflationary economies, the subsidiary’s results, financial position and cash flows that do not have USD as their functional currency are translated into USD using the following exchange rates: • Income, expense and cash flows using for each month the average exchange rate, with the US dollar values for each month being aggregated during the year • Balance sheets using year-end exchange rates • Resulting exchange rate differences are recognized in other comprehensive income For subsidiaries operating in hyperinflationary economies, the impact of the restatement of the non-monetary assets and liabilities with the general price index at the beginning of the period is recorded in retained earnings in equity. The subsequent gains or losses resulting from the restatement of non-monetary assets are recorded in “Other financial income and expense” in the consolidated income statement. |
Non-current assets held for sale or held for distribution to owners | Non-current assets held for sale or held for distribution to owners Non-current assets are accounted for as assets held for sale or related to discontinued operations when their carrying amount is to be recovered principally through a sale transaction or distribution to owners and a sale or distribution to owners is considered highly probable. They are stated at the lower of carrying amount and fair value less costs to sell with any resulting impairment recognized. Assets related to discontinued operations and assets of disposal group held for sale are not depreciated or amortized. The prior year consolidated balance sheet is not restated. If in a subsequent period, the criteria for classification as held for sale are no longer met, the recoverable amount of assets and liabilities are reclassified out of assets held for sale into the respective balance sheet lines, prior year consolidated balance sheet is not restated. The cumulative amount of depreciation and amortization not recorded since the date of their classification to assets held for sale, and any required adjustments to the recoverable amounts of assets are recognized in the consolidated income statement. |
Distribution by way of dividend in kind to shareholders | Distribution of Alcon Inc. to Novartis AG shareholders During the first quarter of 2019, at the Annual General Meeting (AGM) of Novartis AG shareholders, held on February 28, 2019, the Novartis AG shareholders approved a special distribution by way of a dividend in kind to effect the spin-off of Alcon Inc. The February 28, 2019, shareholder approval for the spin-off required the Alcon Division and selected portions of corporate activities attributable to Alcon’s business (the “Alcon business”) to be reported as discontinued operations. The shareholder approval to spin off the Alcon business also required the recognition of a distribution liability at the fair value of the Alcon business. The Group elected to measure the distribution liability at the fair value of the Alcon business net assets taken as a whole. The distribution liability was recognized through a reduction in retained earnings. It was required to be adjusted at each balance sheet date for changes in its estimated fair value, up to the date of the distribution to shareholders through retained earnings. Any resulting impairment of the business assets to be distributed would have been recognized in the consolidated income statements in “Other expense” of discontinued operations, at the date of initial recognition of the distribution liability or at subsequent dates resulting from changes of the distribution liability valuation. At the April 8, 2019 distribution settlement date, the resulting gain, which was measured as the excess amount of the distribution liability over the then-carrying value of the net assets of the business distributed, was recognized on the line “Gain on distribution of Alcon Inc. to Novartis AG shareholders” in the income statement of discontinued operations. The recognition of the distribution liability required the use of valuation techniques for purposes of impairment testing of the Alcon business’ assets to be distributed and for the measurement of the fair value of the distribution liability. These valuations required the use of management assumptions and estimates related to the Alcon business’ future cash flows, market multiples to estimate day one market value, and control premiums to apply in estimating the Alcon business fair value. These fair value measurements were classified as “Level 3” in the fair value hierarchy. The section “—Impairment of goodwill and intangible assets” in this Note 1 provides additional information on key assumptions that are highly sensitive in the estimation of fair values using valuation techniques. Transaction costs that were directly attributable to the distribution (spin-off) of Alcon to the Novartis shareholders, and that would otherwise have been avoided, were recorded as a deduction from equity. For additional disclosures, refer to “Note 2. Significant transactions—Significant transactions in 2019—Completion of the spin-off of the Alcon business through a dividend in kind distribution to Novartis AG shareholders,” and “Note 30. Discontinued operations.” |
Acquisition of assets | Acquisition of assets and businesses Assets separately acquired are recorded at cost, which includes the purchase price and any directly attributable costs for bringing the asset into the condition to operate as intended. Expected costs for obligations to dismantle and remove property, plant and equipment when they are no longer used are included in their cost. Acquired businesses are accounted for using the acquisition method, unless the optional concentration test is applied. The optional concentration test allows for the election on a transaction-by-transaction basis to account for the acquired business as an asset separately acquired when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. The acquisition method requires that the assets acquired and liabilities assumed be recorded at their respective fair values on the date the Group obtains control. The excess of the fair value of the total purchase consideration transferred and the fair value of the acquired assets and assumed liabilities is recognized as goodwill. The related valuations are based on information available at the acquisition date. Acquisition related costs are expensed as incurred. The application of the acquisition method requires certain estimates and assumptions to be made, especially concerning the fair values of the acquired intangible assets, inventories, property, plant and equipment and the liabilities assumed at the acquisition date, and the useful lives of the intangible assets and property, plant and equipment. Estimates of fair value require the use of valuation techniques. These valuations require the use of management assumptions and estimates, including value of comparable assets in the market, amount and timing of future cash flows, outcomes and costs of research and development activities, probability of obtaining regulatory approval, long-term sales forecasts, actions of competitors, discount rates and terminal growth rates. The section “—Impairment of goodwill and intangible assets” in this Note 1 provides additional information on key assumptions that are highly sensitive in the estimation of fair values using valuation techniques. |
Property plant and equipment | Property, plant and equipment Property, plant and equipment are depreciated on a straight-line basis in the consolidated income statement over their estimated useful lives. Freehold land is not depreciated. The related depreciation expense is included in the costs of the functions using the asset. Property, plant and equipment are assessed for impairment whenever there is an indication that the balance sheet carrying amount may not be recoverable using cash flow projections for the useful life. The following table shows the respective useful lives for property, plant and equipment: Useful life Buildings 20 to 40 years Machinery and other equipment Machinery and equipment 7 to 20 years Furniture and vehicles 5 to 10 years Computer hardware 3 to 7 years Government grants obtained for construction activities, including any related equipment, are deducted from the gross acquisition cost to arrive at the balance sheet carrying value of the related assets. |
Leases and right-of-use assets | Leases and right-of-use assets From January 1, 2019, with the adoption of IFRS 16 Leases, the Group adopted the following accounting policies for leases and right-of-use assets: As lessee, the Group assesses whether a contract contains a lease at inception of a contract and upon the modification of a contract. The Group elected to allocate the consideration in the contract to the lease and non-lease components on the basis of the relative standalone price. The Group recognizes a right-of-use asset and a corresponding lease liability for all arrangements in which it is a lessee, except for leases with a term of 12 months or less (short-term leases) and low-value leases. For these short-term and low-value leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease. The lease liability is initially measured at the present value of the future lease payments as from the commencement date of the lease to the end of the lease term. The lease term includes the period of any lease extension that in management’s assessment is highly probable to be exercised by the Group. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, the Novartis incremental borrowing rate for the asset subject to the lease in the respective markets. The Group remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever there is a change to the lease terms or expected payments under the lease, or a modification that is not accounted for as a separate lease. The portion of the lease payments attributable to the repayment of lease liabilities is recognized in cash flows used in financing activities, and the portion attributable to the payment of interest is included in cash flows from operating activities. Right-of-use assets are initially recognized on the balance sheet at cost, which comprises the amount of the initial measurement of the corresponding lease liability, adjusted for any lease payments made at or prior to the commencement date of the lease, any lease incentive received and any initial direct costs incurred by Novartis, and expected costs for obligations to dismantle and remove right-of-use assets when they are no longer used. Right-of-use assets are depreciated on a straight-line basis from the commencement date of the lease over the shorter of the useful life of the right-of-use asset or the end of the lease term. Right-of-use assets are assessed for impairment whenever there is an indication that the balance sheet carrying amount may not be recoverable using cash flow projections for the useful life. In arrangements where the Group is the lessor, it determines at lease inception whether the lease is a finance lease or an operating lease. Leases that transfer substantially all of the risk and rewards incidental to ownership of the underlying asset to the counterparty (the lessee) are accounted for as finance leases. Leases that do not transfer substantially all of the risks and rewards of ownership are accounted for as operating leases. Lease payments received under operating leases are recognized on a straight-line basis over the lease term in the consolidated income statement in either “net sales” or “other income,” depending on the nature of and underlying asset to the lease arrangement. Prior to January 1, 2019, the Group applied the following accounting policies for leases: Leases that transferred substantially all of the risks and rewards of ownership were recognized as finance leases, with the leased asset measured initially at an amount equal to the lower of their fair value and the present value of the minimum lease payments. Minimum lease payments were the payments over the lease term that the Group, as leasee, was required to make, excluding contingent rent. The underlying asset was accounted for in accordance with the accounting policy applicable to that asset. Leases that did not transfer substantially all of the risks and rewards of ownership were accounted for as operating leases and were not recognized in the consolidated balance sheet. Payments made under operating leases were recognized in the consolidated income statement on a straight-line basis over the term of the lease. Lease incentives received were deferred and recognized as a component of lease expense over the term of the lease. The future undiscounted lease payments under operating leases were disclosed as commitments in the notes to the consolidated financial statements. Lessor accounting policies were not substantially different from those applied upon the adoption of IFRS 16 Leases, as described above. The section “—Impact of adopting significant new IFRS standards in 2019” in this Note 1 provides additional disclosures on the impact of adoption of IFRS 16 Leases. |
Goodwill | Goodwill and intangible assets Goodwill Goodwill arises in the acquisition of a business when applying the acquisition method and is the excess of the fair value of the consideration transferred to acquire a business over the underlying fair value of the net identified assets acquired. It is allocated to groups of cash-generating units (CGUs), which are usually represented by the reported segments. Goodwill is tested for impairment annually at the level of these groups of CGUs, and any impairment charges are recorded under “Other expense” in the consolidated income statement. |
Intangible assets available-for-use | Intangible assets available for use Novartis has the following classes of available for use intangible assets: currently marketed products; technologies; other intangible assets (including computer software). Currently marketed products represent the composite value of acquired intellectual property (IP), patents, distribution rights and product trade names. Technologies represent identified and separable acquired know-how used in the research, development and production processes. Significant investments in internally developed and acquired computer software are capitalized and included in the “Other” category, and amortized once available for use. Intangible assets available for use with a definite useful life are amortized over their estimated useful lives on a straight-line basis and are evaluated for potential impairment whenever facts and circumstances indicate that their carrying value may not be recoverable. The following table shows the respective useful lives for intangible assets available for use and the location in the consolidated income statement in which the respective amortization and any potential impairment charge is recognized: Income statement location Currently marketed products 5 to 20 years "Cost of goods sold" Technologies 10 to 20 years "Cost of goods sold" Other (including 3 to 7 years In the respective |
Intangible assets not yet available-for-use | Intangible assets not yet available for use Acquired research and development intangible assets that are still under development and have accordingly not yet obtained marketing approval are recognized as in-process research and development (IPR&D). IPR&D is not amortized, but is evaluated for potential impairment on an annual basis or when facts and circumstances warrant. Any impairment charge is recorded in the consolidated income statement under “Research and development.” Once a project included in IPR&D has been successfully developed, it is transferred to the “Currently marketed products” category. |
Impairment of goodwill and intangible assets | Impairment of goodwill and intangible assets An asset is considered impaired when its balance sheet carrying amount exceeds its estimated recoverable amount, which is defined as the higher of its fair value less costs of disposal and its value in use. Usually, Novartis applies the fair value less costs of disposal method for its impairment assessment. In most cases, no directly observable market inputs are available to measure the fair value less costs of disposal. Therefore, an estimate is derived indirectly and is based on net present value techniques utilizing post-tax cash flows and discount rates. In the limited cases where the value-in-use method would be applied, net present value techniques would be applied using pre-tax cash flows and discount rates. Fair value less costs of disposal reflects estimates of assumptions that market participants would be expected to use when pricing the asset or CGUs, and for this purpose, management considers the range of economic conditions that are expected to exist over the remaining useful life of the asset. The estimates used in calculating the net present values are highly sensitive and depend on assumptions specific to the nature of the Group’s activities with regard to: • Amount and timing of projected future cash flows • Long-term sales forecasts • Actions of competitors (launch of competing products, marketing initiatives, etc.) • Sales erosion rates after the end of patent or other intellectual property rights protection, and timing of the entry of generic competition • Outcome of research and development activities (compound efficacy, results of clinical trials, etc.) • Amount and timing of projected costs to develop IPR&D into commercially viable products • Profit margins • Probability of obtaining regulatory approval • Future tax rate • Appropriate terminal growth rate • Appropriate discount rate Generally, for intangible assets with a definite useful life, Novartis uses cash flow projections for the whole useful life of these assets. For goodwill, Novartis generally utilizes cash flow projections for a five-year period based on management forecasts, with a terminal value based on cash flow projections usually in line with inflation rates for later periods. Probability-weighted scenarios are typically used. Discount rates used consider the Group’s estimated weighted average cost of capital, adjusted for specific asset, country and currency risks associated with cash flow projections, to approximate the discount rate that market participants would use to value the asset. Due to the above factors, actual cash flows and values could vary significantly from forecasted future cash flows and related values derived using discounting techniques. |
Impairment of associated companies accounted for at equity | Impairment of associated companies accounted for at equity Novartis considers investments in associated companies for impairment evaluation whenever objective evidence indicates the net investment may be impaired, including when a quoted share price indicates a fair value less than the per-share balance sheet carrying value for the investment. If the recoverable amount of the investment is estimated to be lower than the balance sheet carrying amount, an impairment charge is recognized for the difference in the consolidated income statement under “Income from associated companies.” |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents include highly liquid investments with original maturities of three months or less, which are readily convertible to known amounts of cash. Bank overdrafts are usually presented within current financial debts on the consolidated balance sheet, except in cases where a right of offset has been agreed with a bank, which then allows for presentation on a net basis. |
Marketable securities, commodities and non-current financial assets | Marketable securities, commodities and non-current financial assets Commodities, which include gold bullion or coins, are valued at the lower of cost or fair value using current market prices. The changes in fair value below cost are immediately recorded in “Other financial income and expense.” Marketable securities are financial assets held for short-term purposes which are principally traded in liquid markets and are classified within current assets on the consolidated balance sheet. The financial impacts related to these financial assets are recorded in “Other financial income and expense” in the consolidated income statement. Non-current financial assets held for long-term strategic purposes are classified within non-current assets on the consolidated balance sheet. The financial impacts related to these financial assets are recorded in “Other income” and “Other expense” in the consolidated income statement. Marketable securities and non-current financial assets are initially recorded at fair value on their trade date, which is different from the settlement date when the transaction is ultimately effected. Quoted securities are remeasured at each reporting date to fair value based on current market prices. If the market for a financial asset is not active or no market is available, fair values are established using valuation techniques. The majority of non-quoted investments are valued initially at fair value through the established purchase price between a willing buyer and seller. Non-quoted investments are subsequently adjusted based on values derived from discounted cash flow analysis or other pricing models. These investment values are classified as “Level 3” in the fair value hierarchy. The Group classifies and accounts for its marketable securities and non-current financial assets in the following categories: • Debt securities are valued at fair value through other comprehensive income with subsequent recycling into the consolidated income statement, as they meet both the “solely payment of principal and interest” and the business model criteria. Unrealized gains and losses, except exchange gains and losses, are recorded as a fair value adjustment in the consolidated statement of comprehensive income. They are recognized in the consolidated income statement when the debt instrument is sold, at which time the gain is transferred to “Other financial income and expense.” Exchange gains and losses related to debt instruments are immediately recognized in the consolidated income statement to “Other financial income and expense.” • Fund investments and equity securities of the Novartis venture fund are valued at fair value through profit and loss (FVPL). Unrealized gains and losses, including exchange gains and losses, are recognized in the consolidated income statement to “Other income” for gains and “Other expense” for losses. • Equity securities held as strategic investments, typically held outside of the Novartis venture fund, are generally designated at the date of acquisition as financial assets valued at fair value through other comprehensive income with no subsequent recycling through profit and loss. Unrealized gains and losses, including exchange gains and losses, are recorded as a fair value adjustment in the consolidated statement of comprehensive income. They are reclassified to retained earnings when the equity security is sold. If these equity securities are not designated at the date of acquisition as financial assets valued at fair value through other comprehensive income, they are valued at FVPL, as described above. • Other non-current financial assets, such as loans and long-term receivables from customers, advances and other deposits, are valued at amortized cost, which reflects the time value of money less any allowances for expected credit losses. The Group assesses on a forward-looking basis the expected credit losses associated with its debt securities valued at fair value through other comprehensive income. Impairments on debt securities are recorded in “Other financial income and expense.” For other financial assets valued at amortized cost, impairments, which are based on their expected credit losses, and exchange rate losses are included in “Other expense” in the consolidated income statement. Exchange rate gains and interest income, using the effective interest rate method, are included in “Other income” or “Other financial income” in the consolidated income statement, depending on the nature of the item. |
Description of accounting policy for financial assets [text block] | Derivative financial instruments Derivative financial instruments are initially recognized in the balance sheet at fair value and are remeasured to their current fair value at the end of each subsequent reporting period. The valuation of a forward exchange rate contract is based on the discounted cash flow model, using interest curves and spot rates at the reporting date as observable inputs. Options are valued based on a modified Black-Scholes model using volatility and exercise prices as major observable inputs. The Group utilizes derivative financial instruments for the purpose of hedging to reduce the volatility in the Group’s performance due to the exposure to various business related risks. To mitigate these risks, the Group enters into certain derivative financial instruments. The risk reduction is obtained because the derivative’s value or cash flows are expected, wholly or partly, to offset changes in the value or cash flows of the recognized assets or liabilities. The overall strategy is aiming to mitigate the currency and interest rate risk of positions that are contractually agreed, and to partially mitigate the exposure risk of selected anticipated transactions. Certain derivative financial instruments meet the criteria for hedge accounting treatment. A prerequisite for obtaining this accounting-hedge relationship is extensive documentation on inception and proving on a regular basis that the economic hedge is effective for accounting purposes. Other derivative financial instruments do not meet the criteria to qualify for hedge accounting. Changes in the fair value of these derivative instruments are recognized immediately in “Other financial income and expense” in the consolidated income statement. In addition, the Group has designated certain long-term debt components as hedges of the translation risk arising on certain net investments in foreign operations. On consolidation, foreign currency differences arising on long-term debt designated as net investment hedges of a foreign operation are recognized in other comprehensive income and accumulated in currency translation effects, to the extent that the hedge is effective. The foreign currency differences arising from hedge ineffectiveness are recognized in the income statement in “Other financial income and expense.” When a hedged net investment is disposed of, the proportionate portion of the cumulative amount recognized in equity in relation to the hedged net investment is transferred to the consolidated income statement as an adjustment to the gain or loss on disposal. |
Inventories | Inventories Inventory is valued at the lower of acquisition or production cost determined on a first-in, first-out basis and net realizable value. This value is used for the “Cost of goods sold” in the consolidated income statement. Unsaleable inventory is fully written off in the consolidated income statement under “Cost of goods sold.” |
Trade receivables | Trade receivables Trade receivables are initially recognized at their invoiced amounts, including any related sales taxes less adjustments for estimated revenue deductions such as rebates, chargebacks and cash discounts. The provisions for doubtful trade receivables are established using an expected credit loss model (ECL). The provisions are based on a forward-looking ECL, which includes possible default events on the trade receivables over the entire holding period of the trade receivable. These provisions represent the difference between the trade receivable’s carrying amount in the consolidated balance sheet and the estimated collectible amount. Charges for doubtful trade receivables are recorded as marketing and selling costs recognized in the consolidated income statement within “Selling, general and administration” expenses. |
Legal and environmental liabilities | Legal and environmental liabilities Novartis and its subsidiaries are subject to contingencies arising in the ordinary course of business, such as patent litigation, environmental remediation liabilities and other product-related litigation, commercial litigation, and governmental investigations and proceedings. Provisions are recorded where a reliable estimate can be made of the probable outcome of legal or other disputes against the subsidiary. |
Contingent consideration | Contingent consideration In an acquisition or a divestment of a business, it is necessary to recognize contingent future amounts due to previous owners, representing contractually defined potential amounts as a liability or an asset. Usually for Novartis, these are linked to milestone or royalty payments related to certain assets and are recognized as a financial liability or financial asset at fair value, which is then remeasured at each subsequent reporting date. These estimations typically depend on factors such as technical milestones or market performance, and are adjusted for the probability of their likelihood of payment, and are appropriately discounted to reflect the impact of time. Changes in the fair value of contingent consideration liabilities in subsequent periods are recognized in the consolidated income statement in “Cost of goods sold” for currently marketed products and in “Research and development” for IPR&D. Changes in contingent consideration assets are recognized in “Other income” or “Other expense,” depending on their nature. The effect of unwinding the discount over time is recognized for contingent liabilities in “Interest expense” and for contingent assets as interest income recognized in the consolidated income statement within “Other financial income and expense.” |
Defined benefit pension plans and other post retirement benefits | Defined ben efit pension plans and other post-employment benefits The liability in respect of defined benefit pension plans and other post-employment benefits is the defined benefit obligation calculated annually by independent actuaries using the projected unit credit method. The current service cost for such post-employment benefit plans is included in the personnel expenses of the various functions in which associates are employed, while the net interest on the net defined benefit liability or asset is recognized as “Other expense” or “Other income.” |
Treasury Shares | Treasury shares Treasury shares are initially recorded at fair value on their trade date, which is different from the settlement date, when the transaction is ultimately effected. Treasury shares are deducted from consolidated equity at their nominal value of CHF 0.50 per share. Differences between the nominal amount and the transaction price on purchases or sales of treasury shares with third parties, or the value of services received for the shares allocated to associates as part of share-based compensation arrangements, are recorded in “Retained earnings” in the consolidated statement of changes in equity. |
Revenue recognition | Revenue recognition Revenue on the sale of Novartis Group products and services, which is recorded as “Net sales” in the consolidated income statement, is recognized when a contractual promise to a customer (performance obligation) has been fulfilled by transferring control over the promised goods and services to the customer, substantially all of which is at the point in time of shipment to or receipt of the products by the customer or when the services are performed. If contracts contain customer acceptance provisions, revenue is recognized upon the satisfaction of the acceptance criteria. If products are stockpiled at the request of the customer, revenue is only recognized once the products have been inspected and accepted by the customer, and there is no right of return or replenishment on product expiry. The amount of revenue recognized is based on the consideration Novartis expects to receive in exchange for its goods and services, when it is highly probable that a significant reversal will not occur. If a contract contains more than one performance obligation, the consideration is allocated based on the standalone selling price of each performance obligation. The consideration Novartis receives in exchange for its goods or services may be fixed or variable. Variable consideration is only recognized when it is highly probable that a significant reversal will not occur. The most common elements of variable consideration are listed below. • Rebates and discounts granted to government agencies, wholesalers, retail pharmacies, managed healthcare organizations and other customers, as well as chargebacks are provisioned and recorded as a revenue deduction at the time the related revenues are recorded or when the incentives are offered. They are calculated on the basis of historical experience, regulations, the specific terms in the individual agreements, product pricing and the mix of products, contracts, channels and payors. • Refunds granted to healthcare providers under innovative pay-for-performance agreements (i.e., outcome based arrangements) are provisioned and recorded as a revenue deduction at the time the related sales are recorded. They are calculated on the basis of historical experience and clinical data available for the product, as well as the specific terms in the individual agreements. In cases where historical experience and clinical data are not sufficient for a reliable estimation of the outcome, revenue recognition is deferred until the uncertainty is resolved or until such history is available. • Cash discounts are offered to customers to encourage prompt payment and are provisioned and recorded as revenue deductions at the time the related sales are recorded. • Shelf stock adjustments are generally granted to customers, primarily of the Sandoz Division, to cover the inventory held by them at the time a price decline becomes effective. Revenue deduction provisions for shelf stock adjustments are recorded when the price decline is anticipated, based on the impact of the price decline on the customer’s estimated inventory levels. • Sales returns provisions are recognized and recorded as revenue deductions when there is historical experience of Novartis agreeing to customer returns and Novartis can reasonably estimate expected future returns. In doing so, the estimated rate of return is applied, determined on the basis of historical experience of customer returns and considering any other relevant factors. This is applied to the amounts invoiced, also considering the amount of returned products to be destroyed versus products that can be placed back in inventory for resale. Where shipments are made on a resale or return basis, without sufficient historical experience for estimating sales returns, revenue is only recorded when there is evidence of consumption or when the right of return has expired. Net sales and provisions for revenue deductions are adjusted to actual amounts as rebates, refunds, discounts and returns are processed. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these sales deductions. “Other revenue” includes income from profit-sharing arrangements with our collaboration partners, and royalty and milestone income from the out-licensing of intellectual property when Novartis retains an interest in the intellectual property through a license. Royalty income earned through a license is recognized when the underlying sales have occurred. Milestone income is recognized at the point in time when it is highly probable that the relevant milestone event criteria are met, and the risk of reversal of revenue recognition is remote. Other revenue also includes revenue from activities such as manufacturing or other services rendered, to the extent such revenue is not recorded under net sales, and is recognized when control transfers to the third party and our performance obligations are satisfied. |
Research and development | Research and development Internal research and development (R&D) costs are fully charged to “Research and development” in the consolidated income statement in the period in which they are incurred. The Group considers that regulatory and other uncertainties inherent in the development of new products preclude the capitalization of internal development expenses as an intangible asset until marketing approval from a regulatory authority is obtained in a major market such as the United States, the European Union, Switzerland or Japan. Payments made to third parties, such as contract research and development organizations in compensation for subcontracted R&D, that are deemed not to transfer intellectual property to Novartis are expensed as internal R&D expenses in the period in which they are incurred. Such payments are only capitalized if they meet the criteria for recognition of an internally generated intangible asset, usually when marketing approval has been achieved from a regulatory authority in a major market. Payments made to third parties to in-license or acquire intellectual property rights, compounds and products, including initial upfront and subsequent milestone payments, are capitalized, as are payments for other assets, such as technologies to be used in R&D activities. If additional payments are made to the originator company to continue to perform R&D activities, an evaluation is made as to the nature of the payments. Such additional payments will be expensed if they are deemed to be compensation for subcontracted R&D services not resulting in an additional transfer of intellectual property rights to Novartis. Such additional payments will be capitalized if they are deemed to be compensation for the transfer to Novartis of additional intellectual property developed at the risk of the originator company. Subsequent internal R&D costs in relation to IPR&D and other assets are expensed, since the technical feasibility of the internal R&D activity can only be demonstrated by the receipt of marketing approval for a related product from a regulatory authority in a major market. Costs for post-approval studies performed to support the continued registration of a marketed product are recognized as marketing expenses. Costs for activities that are required by regulatory authorities as a condition for obtaining marketing approval are capitalized and recognized as currently marketed products. Inventory produced ahead of regulatory approval is fully provisioned, and the charge is included in “Other expense” in the consolidated income statement, as its ultimate use cannot be assured. If this inventory can be subsequently sold, the provision is released to “Other income” in the consolidated income statement, either on approval by the appropriate regulatory authority or, exceptionally in Europe, on recommendation by the Committee for Medicinal Products for Human Use (CHMP), if approval is virtually certain. |
Share based compensation | Share-based compensation Vested Novartis shares and American Depositary Receipts (ADRs) that are granted as compensation are valued at their market value on the grant date and are immediately expensed in the consolidated income statement. The fair values of unvested restricted shares (RSs), restricted share units (RSUs) and performance share units (PSUs) in Novartis shares and ADRs granted to associates as compensation are recognized as an expense over the related vesting period. The expense recorded in the consolidated income statement is included in the personnel expenses of the various functions in which the associates are employed. Unvested restricted shares, restricted ADRs and RSUs are only conditional on the provision of services by the plan participant during the vesting period. They are valued at fair value on the grant date. As RSUs do not entitle the holder to dividends, the fair value is based on the Novartis share price at the grant date adjusted for the net present value of the dividends expected to be paid during the holding period. The fair value of these grants, after making adjustments for assumptions related to forfeiture during the vesting period, is expensed on a straight-line basis over the respective vesting period. PSUs are subject to the achievement of certain performance criteria during the vesting period and require plan participants to provide services during this period. The following paragraphs provide an overview of the accounting policies for the share-based compensation plans that grant PSUs. For PSUs granted under plans that are subject to performance criteria based on Novartis internal performance metrics and that are conditional on the provision of service by plan participants during the vesting period, the expense is recognized on a straight-line basis over the vesting period, and is determined based on assumptions concerning the expected performance against the internal performance metrics throughout the vesting period. The assumptions are based on the Group’s targets for those performance metrics, and the expected forfeitures due to plan participants not meeting their service conditions. The assumptions are periodically adjusted over the vesting period. Any change in estimates for past services is recorded immediately as an expense or income in the consolidated income statement, and amounts for the remaining vesting period are expensed on a straight-line basis. As a result, at the end of the vesting period, the charge during the entire vesting period represents the amount that will finally vest. The number of equity instruments that finally vest is determined at the vesting date. For PSUs granted under plans that are subject to performance criteria based on variables that can be observed in the market, which for Novartis plans is the Novartis total shareholder return (TSR) relative to a specific peer group of companies over the vesting period, and that are conditional on the provision of services by the plan participants during the vesting period, the expense is recognized on a straight-line basis over the vesting period, and is determined based on the total fair value of the grant over the vesting period. IFRS requires that these variables that can be observed in the market are taken into account in determining the fair value of the PSUs at the grant date. Novartis determined the fair value of these PSUs at the date of grant using a Monte Carlo simulation model. Adjustments to the number of equity instruments granted are only made if a plan participant does not fulfill the service conditions. For PSUs granted under plans that are subject to both performance criteria based on Novartis internal performance metrics and Novartis TSR relative to a specific peer group of companies over the vesting period and that are conditional on the provision of service by plan participants during the vesting period, the expense is recognized on a straight-line basis over the vesting period, and is determined based on a bifurcation into the components based on the performance criteria related to Novartis internal performance metrics and TSR, as described in the paragraphs above. Measuring the fair values of PSUs granted that include TSR performance criteria requires use of estimates. The Monte Carlo simulation used to determine the fair value of the PSUs TSR performance criteria requires the probability of factors related to uncertain future events; the term of the award; the grant price of underlying shares or ADRs; expected volatilities; the expected correlation matrix of the underlying equity instruments with those of the peer group of companies; and the risk-free interest rate as input parameters. If a plan participant leaves Novartis for reasons other than retirement, disability or death, then unvested restricted shares, restricted ADRs, RSUs and PSUs are forfeited, unless determined otherwise by the provision of the plan rules or by the Compensation Committee of the Novartis Board of Directors, for example, in connection with a reorganization or divestment. |
Government grants | Government grants Grants from governments or similar organizations are recognized at their fair value when there is a reasonable assurance that the grant will be received and the Group will comply with all attached conditions. Government grants received to compensate for cost are deferred and recognized in the consolidated income statement over the period necessary to match them against the related costs that they are intended to compensate. The accounting policy for property, plant and equipment describes the treatment of any related grants. |
Restructuring charges | Restructuring charges Restructuring provisions are recognized for the direct expenditures arising from the restructuring, where the plans are sufficiently detailed and where appropriate communication to those affected has been made. Charges to increase restructuring provisions are included in “Other expense” in the consolidated income statements. Corresponding releases are recorded in “Other income” in the consolidated income statement. |
Healthcare contributions | Healthcare contributions Healthcare contribution levies and fees under governmental programs that require the Group to contribute to a country’s healthcare costs, other than programs described in Revenue recognition in this Note 1, are recognized in Other expense in the consolidated income statement. Provisions for healthcare contributions are adjusted to the actual amounts levied. The provision represents estimates of the related obligations, requiring the use of judgment when estimating the effect of these healthcare contributions. |
Taxes | Taxes Taxes on income are provided in the same periods as the revenues and expenses to which they relate and include interest and penalties incurred during the period. Deferred taxes are determined using the comprehensive liability method and are calculated on the temporary differences that arise between the tax base of an asset or liability and its carrying value in the balance sheet prepared for consolidation purposes, except for those temporary differences related to investments in subsidiaries and associated companies, where the timing of their reversal can be controlled and it is probable that the difference will not reverse in the foreseeable future. Since the retained earnings are reinvested, withholding or other taxes on eventual distribution of a subsidiary’s retained earnings are only taken into account when a dividend has been planned. The estimated amounts for current and deferred tax assets or liabilities, including any amounts related to any uncertain tax positions, are based on currently known facts and circumstances. Tax returns are based on an interpretation of tax laws and regulations, and reflect estimates based on these judgments and interpretations. The tax returns are subject to examination by the competent taxing authorities, which may result in an assessment being made requiring payments of additional tax, interest or penalties. Inherent uncertainties exist in the estimates of the tax positions. |
Impact of adopting significant new IFRS standards | Impact of adopting significant new IFRS standard in 2020 The following new IFRS standard has been adopted by Novartis from January 1, 2020: IFRS 3 Business Combination amendments The IASB issued amendments to IFRS 3 Business Combinations that revised the definition of a business, which assist entities with the evaluation of when an asset or group of assets acquired should be considered a business. This amended standard has been applied to transactions entered into on or after January 1, 2020. The amended standard allows an entity to apply an optional concentration test, on a transaction-by-transaction basis, to evaluate whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If this optional concentration test is met, the set of activities and assets is determined not to be a business. The adoption of this amended standard on January 1, 2020 did not have a significant impact on our consolidated financial statements and is not expected to have a significant impact in future periods. However, this will depend on the facts and circumstances of future transactions and if the Group decides to apply the optional concentration test in the assessment of whether an acquired set of activities and assets is or is not a business. There are no other IFRS standards or interpretations not yet effective that would be expected to have a material impact on the Group. Impact of adopting significant new IFRS standard in 2019 The following new IFRS standard has been adopted by Novartis from January 1, 2019: IFRS 16 Leases IFRS 16 Leases substantially changed the financial statements, as the majority of leases for which the Group is the lessee became on-balance sheet liabilities with corresponding right-of-use assets also recognized on the balance sheet. The lease liability reflects the net present value of the remaining lease payments, and the right-of-use asset corresponds to the lease liability, adjusted for payments made before the commencement date, lease incentives and other items related to the lease agreement. The standard replaces IAS 17 Leases and related interpretations. Upon adoption of the new standard, a portion of the annual operating lease costs, which was previously fully recognized as functional expenses, as a component of operating income, is recorded as interest expense. In addition, the portion of the lease payments that represents the reduction of the lease liability is recognized in the cash flow statement as an outflow from financing activities, which was previously fully recognized as an outflow from operating activities. Given the leases involved, these effects are not significant to the consolidated income statement and consolidated statement of cash flow. The Group implemented the new standard on January 1, 2019, and applied the modified retrospective method, with right-of-use assets measured at an amount equal to the lease liability, adjusted by the amount of the prepaid or accrued lease payments relating to those leases recognized in the balance sheet immediately before the date of initial application and did not restate prior years. Results of our impact assessment: The undiscounted operating lease commitments as of December 31, 2018, amounted to USD 3.6 billion. This includes approximately USD 0.1 billion of leases with a commencement date in 2019, as well as short-term leases and low-value leases that are recognized from January 1, 2019, upon adoption of IFRS 16, on a straight-line basis as expense in profit and loss. This also includes USD 0.2 billion lease commitments related to the Alcon Division, which is attributable to discontinued operation in 2019. For the remaining undiscounted lease commitments attributable to continuing operations of USD 3.3 billion, the Group recognized on January 1, 2019, lease liabilities of USD 1.74 billion and right-of-use assets of USD 1.55 billion (after the reclassification of USD 0.1 billion from property, plant and equipment, and net adjustments for the USD 0.3 billion recognition of sublease receivables, prepayments, and accrued lease payments recognized as at December 31, 2018). For the lease commitments attributable to discontinued operations, the Group recognized on January 1, 2019, lease liabilities and right-of-use assets of USD 0.2 billion. This does not include the discontinued operations right-of-use assets and lease liability on finance lease agreements of USD 75 million and USD 89 million, respectively. There was an insignificant increase to retained earnings upon adoption of IFRS 16 of USD 3 million that arose from subleases that were accounted for as operating lease agreements under IAS 17 and are accounted for as finance leases under IFRS 16. As a lessor, the Group had no significant impact upon adoption. For additional significant accounting policies applicable to the discontinued operations business see Note 30. |
Discontinued operations | |
Statement [line items] | |
Intangible assets available-for-use | Intangible assets available for use In addition to currently marketed products, technologies and other intangible assets (including computer software), discontinued operations intangible assets available for use also included marketing know-how and the Alcon brand name. Marketing know-how represents the value attributable to the expertise acquired for marketing and distributing Alcon surgical products. The Alcon brand name was shown separately, as it was the only Novartis intangible asset that was available for use with an indefinite useful life. Novartis considers that it was appropriate that the Alcon brand name had an indefinite life since Alcon-branded products had a history of strong revenue and cash flow performance, and Novartis had the intent and ability to support the brand with spending to maintain its value for the foreseeable future. The Alcon brand name was not amortized as it had an indefinite useful life, but was evaluated for potential impairment annually. The following table shows the respective useful lives for available-for-use intangible assets and the location in the consolidated income statement in which the respective amortization and any potential impairment charge were recognized: Income statement location Marketing know-how 25 years "Cost of goods sold" Alcon brand name Not amortized, "Other expense" The estimates used in calculating the net present values are highly sensitive and depend on assumptions specific to the nature of the activities and more specifically on appropriate royalty rate for the Alcon brand name. |
Revenue recognition | Revenue recognition In the Alcon Division, which is reported as discontinued operations, surgical equipment may have been sold together with other products and services under a single contract. Revenues were recognized upon satisfaction of each of the performance obligations in the contract and the consideration was allocated based on the standalone selling price of each performance obligation. For surgical equipment, in addition to cash and installment sales, revenue was recognized under finance and operating lease arrangements. Arrangements in which substantially all the risks and rewards incidental to ownership transfers to the customer were treated as finance lease arrangements. Revenue from finance lease arrangements was recognized at amounts equal to the fair value of the equipment, which approximated the present value of the minimum lease payments under the arrangements. As interest rates embedded in lease arrangements were approximately market rates, revenue under finance lease arrangements was comparable to revenue for outright sales. Finance income for arrangements longer than 12 months was deferred and subsequently recognized based on a pattern that approximated to the use of the effective interest method and was recorded in “Other income.” Operating lease revenue for equipment rentals was recognized on a straight-line basis over the lease term. Net income Included in net income from discontinued operations are: (USD millions) 2019 2018 Interest income 2 Depreciation of property, plant and equipment – 42 – 235 Depreciation of right-of-use assets – 9 Amortization of intangible assets – 174 – 1 052 Impairment charges on property, plant and equipment – 3 Impairment charges on intangible assets 1 – 391 Additions to restructuring provisions – 13 Equity-based compensation of Novartis equity plans – 9 – 93 1 Balance sheet The following were in the balance sheet from discontinued operations for the period from January 1, 2019, to the date of reclassification: (USD millions) 2019 Additions to property, plant and equipment 113 Additions to right-of-use assets 3 Additions to goodwill and intangible assets 36 Cash flows used in investing activities from discontinued operations Cash flows used in investing activities from discontinued operations include the investing activities of the Alcon business and cash outflows for transaction-related expenditures attributable to the series of portfolio transformation transactions completed in 2015. (USD millions) 2020 2019 2018 Payments attributable Divested cash and cash equivalents – 628 Cash flows attributable to the spin-off of the Alcon business – 39 – 657 Other cash flows used in investing activities, net – 88 – 502 – 1 001 Net cash flows used in investing activities from discontinued operations – 127 – 1 159 – 1 001 Cash flows from financing activities from discontinued operations In 2020, the net cash outflows used in financing activities from discontinued operations of USD 50 million was for transaction cost payments directly attributable to the distribution (spin-off) of the Alcon business to Novartis AG shareholders. In 2019, the net cash inflows from financing activities from discontinued operations of USD 3.3 billion (2018: USD 167 million net cash outflows) included mainly USD 3.5 billion (2018: nil) cash inflows from Alcon borrowings in connection with the distribution (spin-off) of the Alcon business to Novartis AG shareholders, partly offset by USD 0.2 billion (2018: USD 0.1 billion) transaction cost payments directly attributable to the distribution (spin-off) of the Alcon business to Novartis AG shareholders (see Notes 1 and 2). Leases The lease liabilities recorded in discontinued operations on January 1, 2019, the date of implementation of IFRS 16 Leases (see Note 1), were USD 286 million, and the right-of-use assets were USD 276 million, including USD 89 million and USD 75 million, respectively, for the previously reported finance lease obligations. For discontinued operations, there were no impairments or significant contract terminations of right-of-use assets for the period from January 1, 2019, to February 28, 2019, the date of shareholder approval for the Alcon spin-off. Net assets derecognized The following table presents the Alcon business net assets at the date of spin-off at April 8, 2019: (USD millions) 2019 Property, plant and equipment 2 858 Right-of-use assets 269 Goodwill 8 906 Intangible assets other than goodwill 11 121 Deferred tax assets 732 Financial and other non-current assets 526 Inventories 1 469 Trade receivables and other current assets 1 787 Cash and cash equivalents 628 Deferred tax liabilities – 1 713 Current and non-current lease liabilities – 269 Current and non-current financial debts – 3 538 Trade payables, provisions and other liabilities – 2 751 Net assets derecognized 20 025 Defined contribution plans In many subsidiaries, associates are covered by defined contribution plans. Contributions charged to the consolidated income statement for the defined contribution plans were: (USD millions) 2019 2018 Contributions for defined contribution plans discontinued operations 33 104 Significant transactions In March 2019, Alcon acquired PowerVision, Inc. (PowerVision), a privately held, US-based medical device development company focused on developing accommodative, implantable intraocular lenses. The fair value of the total purchase consideration was USD 424 million. The amount consisted of an initial cash payment of USD 289 million and the fair value of the contingent consideration of USD 135 million, due to PowerVision shareholders, which they are eligible to receive upon the achievement of specified regulatory and commercialization milestones. The purchase price allocation resulted in net identifiable assets of USD 418 million, consisting of intangible assets of USD 505 million, net deferred tax liabilities of USD 93 million, other net assets of USD 6 million, and goodwill of USD 6 million. The 2019 results of operations since the date of the acquisition were not material. For additional information related to the distribution (spin-off) of the Alcon business to Novartis AG shareholders, effected through a dividend in kind distribution that was completed on April 8, 2019, refer to Note 1 and Note 2. |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Significant Accounting Policies [abstract] | |
Respective Useful Lives of property, plant and equipment | Useful life Buildings 20 to 40 years Machinery and other equipment Machinery and equipment 7 to 20 years Furniture and vehicles 5 to 10 years Computer hardware 3 to 7 years |
Respective Useful Lives of Available-for-Use Intangible Assets | Income statement location Currently marketed products 5 to 20 years "Cost of goods sold" Technologies 10 to 20 years "Cost of goods sold" Other (including 3 to 7 years In the respective |
Significant transactions (Table
Significant transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of significant transactions [abstract] | |
Net gain at completion of spin-off | April 8, Net assets derecognized 1 – 20 025 Derecognition of distribution liability 23 434 Difference between net assets and distribution liability 3 409 Recognition of Alcon Inc. shares obtained Currency translation gains recycled into Transaction costs recognized in the consolidated income statement – 114 Gain on distribution of Alcon Inc. to Novartis AG shareholders 4 691 1 |
Assets and liabilities of disposal group classified as held for sale | December 31, Assets of disposal group classified as held for sale Property, plant and equipment 169 Intangible assets other than goodwill 475 Deferred tax assets 11 Other non-current assets 2 Inventories 181 Other current assets 3 Total 841 December 31, Liabilities of disposal group classified as held for sale Deferred tax liabilities 2 Provisions and other non-current Provisions and other current liabilities 25 Total 31 There were no cumulative income or expenses included in the other comprehensive income relating to the disposal group. |
Segmentation of key figures (Ta
Segmentation of key figures (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Statement [line items] | |
Segmentation - Consolidated income statements | Segmentation – consolidated income statements Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2020 2019 2020 2019 2020 2019 2020 2019 Net sales to third parties from continuing operations 39 013 37 714 9 646 9 731 48 659 47 445 Sales to continuing and discontinued segments 792 783 189 141 – 981 – 871 53 Net sales from continuing operations 39 805 38 497 9 835 9 872 – 981 – 871 48 659 47 498 Other revenues 1 018 1 092 53 63 168 24 1 239 1 179 Cost of goods sold – 10 927 – 10 050 – 5 252 – 5 334 1 058 959 – 15 121 – 14 425 Gross profit from continuing operations 29 896 29 539 4 636 4 601 245 112 34 777 34 252 Selling, general and administration – 11 657 – 11 617 – 2 076 – 2 218 – 464 – 534 – 14 197 – 14 369 Research and development – 8 118 – 8 152 – 862 – 1 250 – 8 980 – 9 402 Other income 922 1 586 176 167 644 278 1 742 2 031 Other expense – 1 871 – 2 069 – 831 – 749 – 488 – 608 – 3 190 – 3 426 Operating income from continuing operations 9 172 9 287 1 043 551 – 63 – 752 10 152 9 086 Income from associated companies 1 1 2 2 670 656 673 659 Interest expense – 869 – 850 Other financial income and expense – 78 45 Income before taxes from continuing operations 9 878 8 940 Taxes – 1 807 – 1 793 Net income from continuing operations 8 071 7 147 Net loss from discontinued operations before gain on Gain on distribution of Alcon Inc. to Novartis AG shareholders 4 691 Net income from discontinued operations 4 590 Net income 8 071 11 737 Attributable to: Shareholders of Novartis AG 8 072 11 732 Non-controlling interests – 1 5 Included in net income from continuing operations are: Interest income 91 245 Depreciation of property, plant and equipment – 912 – 952 – 282 – 283 – 124 – 110 – 1 318 – 1 345 Depreciation of right-of-use assets – 273 – 247 – 41 – 41 – 16 – 17 – 330 – 305 Amortization of intangible assets – 3 080 – 2 509 – 370 – 315 – 12 – 12 – 3 462 – 2 836 Impairment charges on property, plant and equipment, net – 324 – 100 – 116 – 101 – 1 – 440 – 202 Impairment charges on intangible assets, net – 768 – 632 – 141 – 506 – 5 – 914 – 1 138 Impairment charges and fair value Additions to restructuring provisions – 217 – 229 – 98 – 165 – 39 – 98 – 354 – 492 Equity-based compensation of Novartis equity plans – 714 – 761 – 64 – 67 – 180 – 239 – 958 – 1 067 Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2019 2018 2019 2018 2019 2018 2019 2018 Net sales to third parties from continuing operations 37 714 34 892 9 731 9 859 47 445 44 751 Sales to continuing and discontinued segments 783 741 141 177 – 871 – 836 53 82 Net sales from continuing operations 38 497 35 633 9 872 10 036 – 871 – 836 47 498 44 833 Other revenues 1 092 1 188 63 62 24 16 1 179 1 266 Cost of goods sold – 10 050 – 9 870 – 5 334 – 5 530 959 890 – 14 425 – 14 510 Gross profit from continuing operations 29 539 26 951 4 601 4 568 112 70 34 252 31 589 Selling, general and administration – 11 617 – 10 907 – 2 218 – 2 305 – 534 – 505 – 14 369 – 13 717 Research and development – 8 152 – 7 675 – 1 250 – 814 – 9 402 – 8 489 Other income 1 586 977 167 505 278 147 2 031 1 629 Other expense – 2 069 – 1 475 – 749 – 622 – 608 – 512 – 3 426 – 2 609 Operating income from continuing operations 9 287 7 871 551 1 332 – 752 – 800 9 086 8 403 Income from associated companies 1 1 2 5 656 6 432 659 6 438 Interest expense – 850 – 932 Other financial income and expense 45 186 Income before taxes from continuing operations 8 940 14 095 Taxes – 1 793 – 1 295 Net income from continuing operations 7 147 12 800 Net loss from discontinued operations before gain on Gain on distribution of Alcon Inc. to Novartis AG shareholders 4 691 Net income/(loss) from discontinued operations 4 590 – 186 Net income 11 737 12 614 Attributable to: Shareholders of Novartis AG 11 732 12 611 Non-controlling interests 5 3 Included in net income from continuing operations are: Interest income 245 292 Depreciation of property, plant and equipment – 952 – 1 075 – 283 – 285 – 110 – 122 – 1 345 – 1 482 Depreciation of right-of-use assets 1 – 247 – 41 – 17 – 305 Amortization of intangible assets – 2 509 – 2 214 – 315 – 366 – 12 – 7 – 2 836 – 2 587 Impairment charges on property, plant and equipment, net – 100 – 239 – 101 – 60 – 1 – 2 – 202 – 301 Impairment charges on intangible assets, net – 632 – 592 – 506 – 249 – 1 138 – 841 Impairment charges and fair value Additions to restructuring provisions – 229 – 395 – 165 – 32 – 98 – 94 – 492 – 521 Equity-based compensation of Novartis equity plans – 761 – 645 – 67 – 53 – 239 – 220 – 1 067 – 918 1 |
Segmentation - Consolidated balance sheets | Segmentation – consolidated balance sheets Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2020 2019 2020 2019 2020 2019 2020 2019 Total assets 83 112 71 225 16 825 16 468 32 122 30 677 132 059 118 370 Total liabilities – 15 472 – 15 332 – 3 786 – 3 804 – 56 135 – 43 683 – 75 393 – 62 819 Total equity 56 666 55 551 Net debt 1 24 481 15 938 24 481 15 938 Net operating assets 67 640 55 893 13 039 12 664 468 2 932 81 147 71 489 Included in assets and liabilities are: Total property, plant and equipment 9 863 9 632 1 849 1 888 551 549 12 263 12 069 Additions to property, plant 2 Total right-of-use assets 1 489 1 487 133 136 54 54 1 676 1 677 Additions to right-of-use assets 2 264 454 67 49 15 34 346 537 Total goodwill and intangible assets 56 839 46 336 9 817 8 892 152 83 66 808 55 311 Additions to goodwill and 2 Total investment in associated Additions to investment in associated Cash and cash equivalents, marketable securities, Financial debts and derivative Current income tax and deferred tax liabilities 9 880 8 061 9 880 8 061 1 2 |
Net sales and total of selected non-current assets, by countries and regions | Net sales 1 Total of selected non-current assets 2 (USD millions) 2020 % 2019 % 2018 % 2020 % 2019 % Country Switzerland 800 2 848 2 795 2 34 904 39 33 032 43 United States 16 484 34 16 280 34 14 618 33 39 889 44 28 893 37 France 2 442 5 2 442 5 2 505 6 4 115 5 3 933 5 Germany 4 518 9 4 120 9 3 972 9 2 607 3 2 554 3 Japan 2 804 6 2 656 6 2 575 6 313 309 China 2 573 5 2 214 5 1 953 4 714 1 684 1 Other 19 038 39 18 885 39 18 333 40 7 837 8 8 296 11 Group 48 659 100 47 445 100 44 751 100 90 379 100 77 701 100 Region Europe 18 715 38 17 933 38 17 259 39 47 798 53 46 103 59 Americas 19 725 41 19 713 41 18 032 39 40 391 45 29 389 38 Asia/Africa/Australasia 10 219 21 9 799 21 9 460 22 2 190 2 2 209 3 Group 48 659 100 47 445 100 44 751 100 90 379 100 77 701 100 1 2 |
Net sales by region | Segmentation – Net sales by region 1 Change Change Innovative Medicines Europe 13 484 12 818 5 12 296 4 US 14 342 13 789 4 11 864 16 Asia/Africa/Australasia 8 718 8 458 3 8 097 4 Canada and Latin America 2 469 2 649 – 7 2 635 1 Total 39 013 37 714 3 34 892 8 Of which in Established Markets 29 643 28 573 4 26 258 9 Of which in Emerging Growth Markets 9 370 9 141 3 8 634 6 Sandoz Europe 5 231 5 115 2 4 963 3 US 2 142 2 491 – 14 2 754 – 10 Asia/Africa/Australasia 1 501 1 341 12 1 363 – 2 Canada and Latin America 772 784 – 2 779 1 Total 9 646 9 731 – 1 9 859 – 1 Of which in Established Markets 7 089 7 111 0 7 233 – 2 Of which in Emerging Growth Markets 2 557 2 620 – 2 2 626 0 Group Europe 18 715 17 933 4 17 259 4 US 16 484 16 280 1 14 618 11 Asia/Africa/Australasia 10 219 9 799 4 9 460 4 Canada and Latin America 3 241 3 433 – 6 3 414 1 Total 48 659 47 445 3 44 751 6 Of which in Established Markets 36 732 35 684 3 33 491 7 Of which in Emerging Growth Markets 11 927 11 761 1 11 260 4 1 |
Other revenue | Segmentation – other revenue Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2020 2019 2020 2019 2020 2019 2020 2019 Profit-sharing income 835 732 2 835 734 Royalty income 107 104 25 19 168 24 300 147 Milestone income 39 201 11 30 50 231 Other 1 37 55 17 12 54 67 Total other revenues 1 018 1 092 53 63 168 24 1 239 1 179 1 Innovative Medicines Sandoz Corporate (including eliminations) Group (USD millions) 2019 2018 2019 2018 2019 2018 2019 2018 Profit-sharing income 732 874 2 3 734 877 Royalty income 104 162 19 10 24 16 147 188 Milestone income 201 128 30 45 231 173 Other 1 55 24 12 4 67 28 Total other revenues 1 092 1 188 63 62 24 16 1 179 1 266 1 |
Innovative Medicines | |
Statement [line items] | |
Net sales by business franchise | Innovative Medicines Division net sales by business franchise Change Change Oncology Tasigna 1 958 1 880 4 1 874 0 Promacta/Revolade 1 738 1 416 23 1 174 21 Tafinlar Mekinist 1 542 1 338 15 1 155 16 Sandostatin 1 439 1 585 – 9 1 587 0 Jakavi 1 339 1 114 20 977 14 Gleevec/Glivec 1 188 1 263 – 6 1 561 – 19 Afinitor/Votubia 1 083 1 539 – 30 1 556 – 1 Kisqali 687 480 43 235 104 Exjade/Jadenu 653 975 – 33 1 099 – 11 Votrient 635 755 – 16 828 – 9 Kymriah 474 278 71 76 nm Lutathera 445 441 1 167 164 Piqray 320 116 176 nm Adakveo 105 1 nm nm Tabrecta 35 nm nm Other 1 070 1 189 – 10 1 139 4 Total Novartis Oncology business unit 14 711 14 370 2 13 428 7 Immunology, Hepatology and Dermatology Cosentyx 3 995 3 551 13 2 837 25 Ilaris 873 671 30 554 21 Other 1 nm Total Immunology, Hepatology and Dermatology 4 868 4 222 15 3 392 24 Ophthalmology Lucentis 1 933 2 086 – 7 2 046 2 Xiidra 376 192 96 nm Beovu 190 35 nm nm Other 1 911 2 463 – 22 1 995 23 Total Ophthalmology 4 410 4 776 – 8 4 558 5 Neuroscience Gilenya 3 003 3 223 – 7 3 341 – 4 Zolgensma 920 361 155 nm Mayzent 170 26 nm nm Aimovig 164 103 59 8 nm Kesimpta 15 nm nm Other 51 60 – 15 80 – 25 Total Neuroscience 4 323 3 773 15 3 429 10 Change Change Cardiovascular, Renal and Metabolism Entresto 2 497 1 726 45 1 028 68 Other 1 24 – 96 22 9 Total Cardiovascular, Renal and Metabolism 2 498 1 750 43 1 050 67 Respiratory Xolair 1 1 251 1 173 7 1 039 13 Ultibro 623 630 – 1 703 – 10 Other 26 22 18 25 – 12 Total Respiratory 1 900 1 825 4 1 767 3 Established Medicines Galvus 1 199 1 297 – 8 1 284 1 Diovan 1 003 1 064 – 6 1 023 4 Exforge 980 1 025 – 4 1 002 2 Zortress/Certican 452 485 – 7 464 5 Neoral/Sandimmun(e) 393 419 – 6 463 – 10 Voltaren/Cataflam 360 417 – 14 445 – 6 Other 1 916 2 291 – 16 2 587 – 11 Total Established Medicines 6 303 6 998 – 10 7 268 – 4 Total Novartis Pharmaceuticals business unit 24 302 23 344 4 21 464 9 Total division net sales 39 013 37 714 3 34 892 8 1 Xolair nm = not meaningful |
Net sales of Top 20 products | Top 20 Innovative Medicines Division product net sales – 2020 Rest of Psoriasis, ankylosing Gilenya Neuroscience Relapsing multiple sclerosis 1 562 1 441 3 003 Cardiovascular, Renal Tasigna Oncology Chronic myeloid leukemia 859 1 099 1 958 Lucentis Ophthalmology Age-related macular degeneration 1 933 1 933 Immune thrombocytopenia (ITP), Tafinlar Mekinist BRAF V600+ metastatic and Sandostatin Oncology Carcinoid tumors and acromegaly 837 602 1 439 Myelofibrosis (MF), 1 Severe allergic asthma (SAA) Galvus Established Medicines Type 2 diabetes 1 199 1 199 Gleevec/Glivec Oncology Chronic myeloid leukemia and GIST 315 873 1 188 Afinitor/Votubia Oncology Breast cancer/TSC 644 439 1 083 Diovan Established Medicines Hypertension 124 879 1 003 Exforge Established Medicines Hypertension 16 964 980 Zolgensma Neuroscience Spinal muscular atrophy (SMA) 459 461 920 Auto-inflammatory (CAPS, Kisqali Oncology HR+/HER2- metastatic breast cancer 318 369 687 Exjade/Jadenu Oncology Chronic iron overload 138 515 653 Votrient Oncology Renal cell carcinoma 259 376 635 Top 20 products total 11 126 18 790 29 916 Rest of portfolio 3 216 5 881 9 097 Total division sales 14 342 24 671 39 013 1 Xolair Top 20 Innovative Medicines Division product net sales – 2019 Rest of Immunology, Hepatology Psoriasis, ankylosing Gilenya Neuroscience Relapsing multiple sclerosis 1 736 1 487 3 223 Lucentis Ophthalmology Age-related macular degeneration 2 086 2 086 Tasigna Oncology Chronic myeloid leukemia 804 1 076 1 880 Cardiovascular, Renal Sandostatin Oncology Carcinoid tumors and acromegaly 881 704 1 585 Afinitor/Votubia Oncology Breast cancer/TSC 1 003 536 1 539 Immune thrombocytopenia (ITP), Tafinlar Mekinist BRAF V600+ metastatic and Galvus Established Medicines Type 2 diabetes 1 297 1 297 Gleevec/Glivec Oncology Chronic myeloid leukemia and GIST 334 929 1 263 1 Severe allergic asthma (SAA) Myelofibrosis (MF), Diovan Established Medicines Hypertension 86 978 1 064 Exforge Established Medicines Hypertension 13 1 012 1 025 Exjade/Jadenu Oncology Chronic iron overload 450 525 975 Votrient Oncology Renal cell carcinoma 332 423 755 Auto-inflammatory (CAPS, Zortress/Certican Established Medicines Transplantation 169 316 485 Kisqali Oncology HR+/HER2- metastatic breast cancer 250 230 480 Top 20 products total 10 679 17 967 28 646 Rest of portfolio 3 110 5 958 9 068 Total division sales 13 789 23 925 37 714 1 Xolair Top 20 Innovative Medicines Division product net sales – 2018 Rest of Gilenya Neuroscience Relapsing multiple sclerosis 1 765 1 576 3 341 Immunology, Hepatology Psoriasis, ankylosing Lucentis Ophthalmology Age-related macular degeneration 2 046 2 046 Tasigna Oncology Chronic myeloid leukemia 806 1 068 1 874 Sandostatin Oncology Carcinoid tumors and acromegaly 817 770 1 587 Gleevec/Glivec Oncology Chronic myeloid leukemia and GIST 440 1 121 1 561 Afinitor/Votubia Oncology Breast cancer/TSC 929 627 1 556 Galvus Established Medicines Type 2 diabetes 1 284 1 284 Immune thrombocytopenia (ITP), Tafinlar Mekinist BRAF V600+ metastatic and Exjade/Jadenu Oncology Chronic iron overload 521 578 1 099 1 Severe allergic asthma (SAA) Cardiovascular, Renal Diovan Established Medicines Hypertension 84 939 1 023 Exforge Established Medicines Hypertension 19 983 1 002 Myelofibrosis (MF), Votrient Oncology Renal cell carcinoma 404 424 828 Auto-inflammatory (CAPS, Reduction of elevated intraocular Zortress/Certican Established Medicines Transplantation 145 319 464 Top 20 products total 9 654 17 292 26 946 Rest of portfolio 2 210 5 736 7 946 Total division sales 11 864 23 028 34 892 1 Xolair |
Sandoz [member] | |
Statement [line items] | |
Net sales by business franchise | Sandoz Division net sales by business franchise Change Change Retail Generics 1 7 244 7 590 – 5 7 880 – 4 Biopharmaceuticals 1 928 1 607 20 1 436 12 Anti-Infectives 474 534 – 11 543 – 2 Total division net sales 9 646 9 731 – 1 9 859 – 1 1 |
Associated companies (Tables)
Associated companies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Statement [line items] | |
Schedule disclosing information related to associates | Net income statement effect Other comprehensive income effect Total comprehensive income effect (USD millions) 2020 2019 2018 2020 2019 2018 1 2020 2019 2018 Roche Holding AG, Switzerland 677 662 526 – 56 – 94 75 621 568 601 GlaxoSmithKline Consumer Others – 4 – 3 2 – 4 – 3 2 Associated companies related to continuing operations 673 659 6 438 – 56 – 94 – 482 617 565 5 956 1 |
Schedule disclosing information related to associates, balance sheet value | Balance sheet value December 31, December 31, Roche Holding AG, Switzerland 9 407 8 445 Others 225 199 Total 9 632 8 644 |
Roche Holding AG, Switzerland | |
Statement [line items] | |
Associates summarized financial information | Non-current Current Non-current December 31, 2019 31.3 56.4 24.1 23.1 June 30, 2020 27.7 55.7 22.5 23.1 Other Total December 31, 2019 63.8 12.3 – 0.9 11.4 June 30, 2020 30.4 7.2 – 0.7 6.5 |
Purchase price allocation associates | December 31, Novartis share of Roche’s estimated net assets 2 585 Novartis share of reappraised intangible assets 117 Implicit Novartis goodwill 3 233 Current value of share in net identifiable assets Accumulated equity accounting adjustments and translation effects less dividends received 3 472 Balance sheet value 9 407 |
Schedule disclosing information related to associates, net income effect | (USD millions) 2020 2019 2018 Novartis share of Roche's Prior-year adjustment – 64 – 129 – 125 Amortization of fair value Partial release of deferred tax liability recognized 43 Net income effect 677 662 526 |
GlaxoSmithKline Consumer Healthcare Holdings Ltd., UK | |
Statement [line items] | |
Schedule disclosing information related to associates, net income effect | (USD millions) 2018 Novartis share of Prior-year adjustment 4 Amortization of fair value Pre-tax gain on divestment of GSK Consumer Healthcare 5 790 Net income effect 5 910 |
Interest expense and other fi_2
Interest expense and other financial income and expense (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Interest Expense and Other Financial Income and Expense [abstract] | |
Interest expense | (USD millions) 2020 2019 2018 Interest expense – 708 – 714 – 877 Interest expense on lease liabilities – 67 – 66 Expense arising from discounting long-term liabilities and capitalized borrowing costs – 94 – 70 – 55 Total interest expense from continuing operations – 869 – 850 – 932 |
Other financial income and expense | (USD millions) 2020 2019 2018 Interest income 91 245 292 Other financial income 18 12 1 Financial expense – 52 – 52 – 39 Currency result, net – 135 – 160 – 68 Total other financial income and expense from continuing operations – 78 45 186 |
Taxes (Tables)
Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of IncomeTax [abstract] | |
Income before taxes | (USD millions) 2020 2019 2018 Switzerland 9 786 8 097 11 887 Foreign 92 843 2 208 Income before taxes from continuing operations 9 878 8 940 14 095 |
Current and deferred income tax expense | (USD millions) 2020 2019 2018 Switzerland – 932 – 1 186 – 615 Foreign – 1 168 – 961 – 988 Current income tax expense – 2 100 – 2 147 – 1 603 Switzerland – 137 – 93 – 120 Foreign 430 447 428 Deferred tax income 293 354 308 Income tax expense from continuing operations – 1 807 – 1 793 – 1 295 |
Analysis of tax rate | (As a percentage) 2020 2019 2018 Applicable tax rate 13.6 11.7 14.3 Effect of disallowed expenditures 4.6 4.8 1.7 Effect of utilization of tax losses Effect of income taxed at reduced rates – 0.3 – 0.7 – 0.4 Effect of income not subject to tax 1 – 0.7 0.0 – 3.7 Effect of tax credits and allowances – 2.3 – 2.3 – 2.3 Effect of release of Effect of tax rate change 2 Effect of write-off of deferred tax assets 3 0.2 4.0 0.2 Effect of write-down and reversal of Effect of prior-year items 2.3 2.2 – 0.5 Effect of other items 4 1.9 3.0 0.3 Effective tax rate for continuing operations 18.3 20.1 9.2 1 2 3 4 |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings per share [abstract] | |
Earnings per share | 2020 2019 2018 Net income attributable to shareholders of Novartis AG (USD millions) - Continuing operations 8 072 7 142 12 797 - Discontinued operations 4 590 – 186 Total 8 072 11 732 12 611 Number of shares (in millions) Weighted average number of shares outstanding used in basic earnings per share 2 277 2 291 2 319 Adjustment for vesting of restricted shares, restricted share units and dilutive shares from options 19 28 25 Weighted average number of shares in diluted earnings per share 2 296 2 319 2 344 Basic earnings per share (USD) - Continuing operations 3.55 3.12 5.52 - Discontinued operations 2.00 – 0.08 Total 3.55 5.12 5.44 Diluted earnings per share (USD) - Continuing operations 3.52 3.08 5.46 - Discontinued operations 1.98 – 0.08 Total 3.52 5.06 5.38 |
Changes in consolidated state_2
Changes in consolidated statements of comprehensive income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Comprehensive income [abstract] | |
Comprehensive income | Total value Value adjustments at December 31, 2017, as previously reported 395 – 5 064 329 – 4 340 – 21 – 4 361 Impact of adoption of IFRS 9 on retained Restated value adjustments at January 1, 2018 218 – 5 064 329 – 4 517 – 21 – 4 538 Fair value adjustments on deferred cash flow Fair value adjustments on equity securities, 1 Net investment hedge 95 95 95 Defined benefit plans, net of taxes Currency translation effects 8.1 320 320 – 5 315 Total value adjustments in 2018 25 – 359 415 81 – 5 76 Fair value adjustments on equity securities sold, reclassified to retained earnings – 16 – 16 – 16 Value adjustments at December 31, 2018 227 – 5 423 744 – 4 452 – 26 – 4 478 Fair value adjustments on deferred cash Fair value adjustments on debt securities 1 1 1 Fair value adjustments on equity securities, 1 Net investment hedge 44 44 44 Defined benefit plans, net of taxes 2 Currency translation effects 8.1 354 354 – 2 352 Total value adjustments in 2019 – 45 – 466 398 – 113 – 3 – 116 Fair value adjustments on equity securities Fair value adjustments related to divestments 33 – 30 3 3 Value adjustments at December 31, 2019 120 – 5 919 1 142 – 4 657 – 29 – 4 686 Fair value adjustments on equity securities, 1 Net investment hedge – 201 – 201 – 201 Defined benefit plans, net of taxes Currency translation effects 8.1 3 193 3 193 1 3 194 Total value adjustments in 2020 250 145 2 992 3 387 – 1 3 386 Fair value adjustments on equity securities Fair value adjustments related to divestments 2 2 2 Impact of change in ownership of consolidated entities – 1 – 1 1 Value adjustments at December 31, 2020 220 – 5 773 4 134 – 1 419 – 29 – 1 448 1 2 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, plant and equipment [table text block] | The following table summarizes the movements of property, plant and equipment during 2020: Machinery Cost January 1, 2020 512 11 463 1 350 13 674 26 999 Cost of assets reclassified out of assets of 1 Impact of acquisitions of businesses 2 19 5 26 Reclassifications 10 433 – 1 038 595 Additions 7 115 847 296 1 265 Disposals and derecognitions – 23 – 465 – 57 – 1 656 – 2 201 Currency translation effects 36 695 110 956 1 797 December 31, 2020 555 12 377 1 248 14 038 28 218 Accumulated depreciation January 1, 2020 – 20 – 5 124 – 60 – 9 726 – 14 930 Accumulated depreciation on assets reclassified out of assets of 1 Accumulated depreciation on disposals and derecognitions 17 433 11 1 543 2 004 Depreciation charge 2 – 491 – 827 – 1 318 Impairment charge – 15 – 194 – 10 – 228 – 447 Reversal of impairment charge 7 7 Currency translation effects – 1 – 373 – 3 – 731 – 1 108 December 31, 2020 – 19 – 5 807 – 66 – 10 063 – 15 955 Net book value at December 31, 2020 536 6 570 1 182 3 975 12 263 Commitments for purchases of property, plant and equipment 256 Capitalized borrowing costs 2 1 2 The following table summarizes the movements of property, plant and equipment during 2019: Machinery Cost January 1, 2019 696 14 135 2 042 17 155 34 028 Cost of assets related to discontinued operations 1 – 61 – 1 615 – 655 – 2 678 – 5 009 Reclassification to right-of-use assets 2 – 122 – 3 – 2 – 127 Cost of assets related to disposal group held for sale 3 – 3 – 12 – 8 – 23 Impact of acquisitions of businesses 10 24 1 9 44 Reclassifications 57 332 – 1 019 630 Additions 6 112 1 001 355 1 474 Disposals and derecognitions – 75 – 1 551 – 9 – 1 774 – 3 409 Currency translation effects 1 32 1 – 13 21 December 31, 2019 512 11 463 1 350 13 674 26 999 Accumulated depreciation January 1, 2019 – 43 – 6 328 – 37 – 11 924 – 18 332 Accumulated depreciation on assets related to discontinued operations 1 8 562 7 1 541 2 118 Reclassification to right-of-use assets 2 26 26 Accumulated depreciation on assets related to disposal group held for sale 3 2 2 Accumulated depreciation on disposals and derecognitions 1 170 2 1 674 2 846 Depreciation charge 4 – 447 – 898 – 1 345 Impairment charge 5 – 10 – 51 – 34 – 110 – 205 Reversal of impairment charge 1 2 3 Currency translation effects – 1 – 33 – 9 – 43 December 31, 2019 – 20 – 5 124 – 60 – 9 726 – 14 930 Net book value at December 31, 2019 492 6 339 1 290 3 948 12 069 Commitments for purchases of property, plant and equipment 220 Capitalized borrowing costs 4 1 2 3 4 5 |
Right-of-use assets and lease_2
Right-of-use assets and lease liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Right of use assets Disclosure and Lease liabilities [abstract] | |
Disclosure of Right-of-use assets roll forward | (USD millions) 2020 2019 Right-of-use assets at January 1 1 677 1 554 Impact of acquisitions of businesses 32 Additions 346 537 Depreciation charge – 330 – 305 Lease contract terminations 1 – 63 – 98 Impact of divestments – 32 – 17 Currency translation effects 46 6 Total right-of-use assets at December 31 2 1 676 1 677 1 2 |
Disclosure of right-of-use assets carrying value and depreciation charge | December 31, Depreciation December 31, Depreciation Land 528 11 537 14 Buildings 963 207 990 194 Vehicles 155 100 129 87 Machinery and equipment, and other assets 30 12 21 10 Total right-of-use assets 1 676 330 1 677 305 |
Disclosure of maturity analysis of lease liability | Lease liabilities Lease liabilities Less than one year 286 338 246 295 Between one and two years 229 274 202 246 Between two and three years 186 226 163 202 Between three and four years 148 183 138 173 Between four and five years 129 160 119 150 After five years 1 027 2 326 1 081 2 419 Total lease liabilities 2 005 3 507 1 949 3 485 Less current portion of lease liabilities – 286 – 338 – 246 – 295 Non-current portion of lease liabilities 1 719 3 169 1 703 3 190 |
Additional disclosures related to right-of-use assets and lease liabilities [table text block] | (USD millions) 2020 2019 Interest expense on lease liabilities 1 67 66 Expense on short-term leases 4 7 Expense on low-value leases 7 8 Total cash outflows for leases 379 339 Thereof: Cash outflows for short-term leases 2 Payments of interest 3 56 51 Payments of lease liabilities 4 312 273 1 2 3 4 |
Goodwill and intangible assets
Goodwill and intangible assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of detailed information about intangible assets [abstract] | |
Movements of goodwill and intangible assets | The following table summarizes the movements of goodwill and intangible assets in 2020: Goodwill Intangible assets other than goodwill In-process Currently Other Cost January 1, 2020 26 825 7 429 884 43 548 1 558 53 419 Cost of assets reclassified out of assets of 1 Impact of acquisitions of businesses 2 580 8 600 196 218 9 014 Reclassifications 2 – 9 272 – 2 9 274 Additions 3 339 674 412 1 425 Disposals and derecognitions 4 – 421 – 101 – 39 – 11 – 572 Currency translation effects 916 208 58 2 568 205 3 039 December 31, 2020 30 321 6 893 1 115 57 333 2 384 67 725 Accumulated amortization January 1, 2020 – 301 – 2 005 – 721 – 20 969 – 937 – 24 632 Accumulated amortization on assets reclassified 1 Amortization charge 5 – 72 – 3 215 – 175 – 3 462 Accumulated amortization on disposals 4 Impairment charge 6 – 515 – 40 – 338 – 21 – 914 Currency translation effects – 21 – 92 – 46 – 1 267 – 145 – 1 550 December 31, 2020 – 322 – 2 193 – 885 – 26 566 – 1 272 – 30 916 Net book value at December 31, 2020 29 999 4 700 230 30 767 1 112 36 809 1 2 3 4 5 6 The following table summarizes the movements of goodwill and intangible assets in 2019: Goodwill Intangible assets other than goodwill In-process Currently Other Cost January 1, 2019 35 700 16 167 2 980 6 253 35 412 5 960 2 253 69 025 Cost of assets related to 1 Cost of assets related to disposal group 2 Impact of acquisitions of businesses 186 342 3 550 22 3 914 Reclassifications 3 – 9 069 9 069 Additions 4 265 243 259 767 Disposals and derecognitions 5 – 75 – 544 – 436 – 1 055 Currency translation effects – 61 49 254 32 335 December 31, 2019 26 825 7 429 884 43 548 1 558 53 419 Accumulated amortization January 1, 2019 – 406 – 1 120 – 4 758 – 21 218 – 1 906 – 1 304 – 30 306 Accumulated amortization 1 Amortization charge 6 – 42 – 2 657 – 137 – 2 836 Accumulated amortization on disposals 5 Impairment charge 6 – 984 – 105 – 54 – 32 – 1 175 Reversal of impairment charge 37 37 Currency translation effects 4 – 11 – 126 – 11 – 148 December 31, 2019 – 301 – 2 005 – 721 – 20 969 – 937 – 24 632 Net book value at December 31, 2019 26 524 5 424 163 22 579 621 28 787 1 2 3 4 5 6 |
Allocation of net book values of goodwill and intangible assets by reporting segment | Goodwill Intangible assets other than goodwill In-process Currently Other Innovative Medicines 21 718 4 548 3 29 645 925 35 121 Sandoz 8 274 152 227 1 122 42 1 543 Corporate 7 145 145 Net book value at December 31, 2020 29 999 4 700 230 30 767 1 112 36 809 The following table summarizes the allocation of the net book values of goodwill and intangible assets by reporting segment at December 31, 2019: Goodwill Intangible assets other than goodwill In-process Currently Other Innovative Medicines 18 750 5 339 7 21 720 520 27 586 Sandoz 7 767 85 156 859 25 1 125 Corporate 7 76 76 Net book value at December 31, 2019 26 524 5 424 163 22 579 621 28 787 |
Assumptions used in the calculation of valuation | Innovative Terminal growth rate 1.5 1.5 Discount rate (post-tax) 6.5 6.5 |
Intangible asset impairment charges | (USD millions) 2020 2019 2018 Innovative Medicines 1 – 768 – 669 – 592 Sandoz 2 – 141 – 506 – 249 Corporate – 5 Total – 914 – 1 175 – 841 1 Votrient Votrient 2 |
Deferred tax assets and liabi_2
Deferred tax assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Deferred Tax Assets and Liabilities [abstract] | |
Schedule of Deferred Tax Assets and Liabilities | Pensions and Gross deferred tax assets at January 1, 2020 108 1 469 1 078 2 446 255 2 596 7 952 Gross deferred tax liabilities at January 1, 2020 – 390 – 3 610 – 291 – 287 – 7 – 1 325 – 5 910 Net deferred tax balance at January 1, 2020 – 282 – 2 141 787 2 159 248 1 271 2 042 At January 1, 2020 – 282 – 2 141 787 2 159 248 1 271 2 042 Credited/(charged) to income 89 110 – 25 212 – 164 71 293 Charged to equity 9 9 Charged to other comprehensive income – 3 – 36 – 39 Impact of acquisitions of businesses 5 – 1 945 – 3 408 34 – 1 501 Other movements – 53 58 38 – 25 5 – 35 – 12 Net deferred tax balance at December 31, 2020 – 241 – 3 918 797 2 343 497 1 314 792 Gross deferred tax assets at December 31, 2020 189 1 351 1 137 2 502 507 2 658 8 344 Gross deferred tax liabilities at December 31, 2020 – 430 – 5 269 – 340 – 159 – 10 – 1 344 – 7 552 Net deferred tax balance at December 31, 2020 – 241 – 3 918 797 2 343 497 1 314 792 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 130 Deferred tax assets at December 31, 2020 8 214 Deferred tax liabilities at December 31, 2020 – 7 422 Net deferred tax balance at December 31, 2020 792 Gross deferred tax assets at January 1, 2019 191 1 233 1 188 3 722 273 2 175 8 782 Gross deferred tax liabilities at January 1, 2019 – 622 – 5 384 – 273 – 474 – 805 – 7 558 Net deferred tax balance at January 1, 2019 – 431 – 4 151 915 3 248 273 1 370 1 224 At January 1, 2019 – 431 – 4 151 915 3 248 273 1 370 1 224 Net deferred tax balance related to discontinued operations 1 82 1 403 – 123 – 248 – 39 – 217 858 Credited/(charged) to income 74 605 308 – 818 – 113 298 354 Charged to equity 8 75 – 166 – 83 Charged to other comprehensive income – 313 24 – 289 Impact of acquisitions of businesses 3 – 45 21 – 26 – 47 Other movements – 10 39 – 23 31 – 12 25 Net deferred tax balance at December 31, 2019 – 282 – 2 141 787 2 159 248 1 271 2 042 Gross deferred tax assets at December 31, 2019 108 1 469 1 078 2 446 255 2 596 7 952 Gross deferred tax liabilities at December 31, 2019 – 390 – 3 610 – 291 – 287 – 7 – 1 325 – 5 910 Net deferred tax balance at December 31, 2019 – 282 – 2 141 787 2 159 248 1 271 2 042 After offsetting the following amount of deferred tax assets and liabilities within the same tax jurisdiction, the balance amounts to: 43 Deferred tax assets at December 31, 2019 7 909 Deferred tax liabilities at December 31, 2019 – 5 867 Net deferred tax balance at December 31, 2019 2 042 1 |
Deferred tax assets/liabilities, expected to have impact on current taxes payable | (USD billions) 2020 2019 Expected to have an impact on current tax payable after more than 12 months – Deferred tax assets 4.5 4.3 – Deferred tax liabilities 7.0 5.2 |
Temporary differences on which no deferred tax assets have been provided | (USD billions) 2020 2019 Investments in subsidiaries 5 3 Goodwill from acquisitions – 27 – 24 |
Gross value of tax-loss carry-forwards | (USD millions) Not capitalized Capitalized 2020 total One year 20 20 Two years 1 5 6 Three years 2 6 8 Four years 23 23 Five years 11 40 51 More than five years 1 3 400 2 291 5 691 Not subject to expiry 323 683 1 006 Total 3 780 3 025 6 805 1 (USD millions) Not capitalized Capitalized 2019 total One year 14 0 14 Two years 28 0 28 Three years 28 6 34 Four years 16 46 62 Five years 127 37 164 More than five years 125 2 214 2 339 Not subject to expiry 310 35 345 Total 648 2 338 2 986 (USD millions) 2020 2019 2018 Tax losses carried forward |
CH Corporate tax rate, impact on the revaluation of deferred assets and liabilities and current income tax liabilities | Income Deferred tax asset Items previously recognized Items previously recognized in other comprehensive income 1 – 358 – 358 Total revaluation of deferred tax assets and liabilities 234 – 358 – 124 1 |
Financial and other non-curre_2
Financial and other non-current assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of financial and other non-current assets [abstract] | |
Financial assets | (USD millions) 2020 2019 Equity securities 1 577 1 524 Debt securities 36 33 Fund investments 366 233 Total financial investments 1 979 1 790 Long-term receivables from finance subleases 83 66 Other long-term receivables 125 104 Contingent consideration receivables 1 625 399 Long-term loans, advances and security deposits 89 159 Total financial assets 2 901 2 518 1 |
Other non-current assets | (USD millions) 2020 2019 Deferred compensation plans 471 414 Prepaid post-employment benefit plans 202 148 Other non-current assets 219 176 Total other non-current assets 892 738 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Inventories Disclosure [abstract] | |
Inventories by class | (USD millions) 2020 2019 Raw material, consumables 967 751 Work in progress 3 324 3 024 Finished products 2 840 2 207 Total inventories 7 131 5 982 |
Amount of inventory recognized as an expense in cost of goods sold | (USD billions) 2020 2019 2018 Cost of goods sold – 8.5 – 8.5 – 8.3 |
Recognized amount of inventory provisions and reversals of inventory provision | (USD millions) 2020 2019 2018 Inventory provisions – 702 – 752 – 603 Reversals of inventory provisions 255 218 216 |
Trade receivables (Tables)
Trade receivables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of trade receivables [abstract] | |
Provisions for trade receivables | (USD millions) 2020 2019 Total gross trade receivables 8 310 8 396 Provisions for doubtful trade receivables – 93 – 95 Total trade receivables, net 8 217 8 301 |
Trade receivables provision movements | (USD millions) 2020 2019 2018 January 1 – 95 – 126 – 190 Provisions related to discontinued operations 1 54 Impact of acquisitions of businesses – 1 Provisions for doubtful trade receivables charged to the consolidated income statement 2 – 59 – 89 – 47 Utilization of provisions for doubtful trade receivables 13 12 39 Reversal of provisions for doubtful trade receivables credited to the consolidated income statement 3 53 53 61 Currency translation effects – 5 1 12 December 31 – 93 – 95 – 126 1 2 3 |
Overdue amounts and related provision | (USD millions) 2020 2019 Not overdue 7 714 7 763 Past due for not more than one month 150 161 Past due for more than one month Past due for more than three months Past due for more than six months Past due for more than one year 149 150 Provisions for doubtful trade receivables – 93 – 95 Total trade receivables, net 8 217 8 301 |
Gross trade receivable from closely monitored countries | (USD millions) 2020 2019 Total balance of gross trade Past due for more than one year 55 61 Provisions 27 24 |
Trade receivables denominated in other currencies | (USD millions) 2020 2019 US dollar (USD) 3 311 3 466 Euro (EUR) 1 668 1 384 Japanese yen (JPY) 437 466 Russian ruble (RUB) 288 341 Chinese yuan (CNY) 208 279 British pound (GBP) 191 202 Australian dollar (AUD) 153 125 Brazilian real (BRL) 148 165 Canadian dollar (CAD) 125 129 Swiss franc (CHF) 124 89 Other currencies 1 564 1 655 Total trade receivables, net 8 217 8 301 |
Marketable securities, commod_2
Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of marketable securities commodities deposits derivative instruments and cash [abstract] | |
Marketable securities, commodities, timedeposits, and derivative financial instruments | (USD millions) 2020 2019 Marketable securities 26 61 Commodities 111 110 Time deposits and short-term investments with original maturity more than 90 days 1 609 61 Derivative financial instruments 159 102 Total marketable securities, commodities, time deposits and derivative financial instruments 1 905 334 |
Cash and cash equivalents | (USD millions) 2020 2019 Current accounts 3 750 3 247 Time deposits and short-term investments with original maturity less than 90 days 5 908 7 865 Total cash and cash equivalents 9 658 11 112 |
Other current assets (Tables)
Other current assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other current assets [abstract] | |
Other current assets | (USD millions) 2020 2019 VAT receivable 544 508 Withholding tax recoverable 73 108 Prepaid expenses 943 898 Receivables from associated companies 1 Other receivables and current assets 963 1 165 Total other current assets 2 523 2 680 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of equity [abstract] | |
Schedule disclosing information related to movement in the share capital | Movement Movement Movement Share capital 969 – 25 944 – 8 936 – 23 913 Treasury shares – 100 31 – 69 – 11 – 80 27 – 53 Outstanding share capital 869 6 875 – 19 856 4 860 |
Schedule disclosing information related to movement in the shares | 2020 2019 2018 Total Total 1 Total Total Total 1 Total Total Total 1 Total Balance at beginning of year 2 527.3 – 262.3 2 265.0 2 550.6 – 239.4 2 311.2 2 616.8 – 299.3 2 317.5 Shares canceled for capital 2 Shares acquired to be 3 Other share purchases 4 – 1.7 – 1.7 – 1.7 – 1.7 – 1.2 – 1.2 Exercise of options 5 Equity-based compensation 5 11.0 11.0 9.4 9.4 7.4 7.4 Shares delivered to Alcon Other share sales 3.0 3.0 Total movements – 60.3 52.1 – 8.2 – 23.3 – 22.9 – 46.2 – 66.2 59.9 – 6.3 Balance at end of year 2 467.0 – 210.2 2 256.8 2 527.3 – 262.3 2 265.0 2 550.6 – 239.4 2 311.2 1 2 3 4 5 |
Schedule disclosing information related to Dividend | 2020 2019 2018 Dividend per share (in CHF) 2.95 2.85 2.80 Total dividend payment |
Schedule disclosing information related treasury shares movements | 2020 2019 2018 Number of Number of Number of Shares acquired to be canceled 1 – 32.6 – 2 897 – 60.3 – 5 351 – 23.3 – 1 859 Other share purchases 2 – 1.7 – 159 – 1.7 – 160 – 1.2 – 114 Purchase of treasury shares – 34.3 – 3 056 – 62.0 – 5 511 – 24.5 – 1 973 Exercise of options and employee transactions 3 18.9 14.7 806 5.5 210 7.8 434 Equity-based compensation 4 11.0 730 9.4 833 7.4 756 Shares delivered to Alcon employees 0.4 30 0.9 18 Other share sales 3.0 263 Total – 8.2 – 1 490 – 46.2 – 4 450 – 6.3 – 520 1 2 3 4 |
Non-current financial debt (Tab
Non-current financial debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of financial liabilities [abstract] | |
Disclosure of non-current portion of non-current borrowings by type | (USD millions) 2020 2019 Straight bonds 28 298 22 167 Liabilities to banks and other financial institutions 1 233 188 Total, including current portion of non-current financial debt 28 531 22 355 Less current portion of non-current financial debt – 2 272 – 2 002 Total non-current financial debt 26 259 20 353 1 |
Disclosure of detailed information about borrowings | Nominal 2020 2019 4.400% USD 1 000 2010 2020 Novartis Capital Corporation, New York, United States 99.237% 1 000 2.400% USD 1 500 2012 2022 Novartis Capital Corporation, New York, United States 99.225% 1 497 1 495 3.700% USD 500 2012 2042 Novartis Capital Corporation, New York, United States 98.325% 490 489 3.400% USD 2 150 2014 2024 Novartis Capital Corporation, New York, United States 99.287% 2 142 2 139 4.400% USD 1 850 2014 2044 Novartis Capital Corporation, New York, United States 99.196% 1 826 1 825 0.750% EUR 600 2014 2021 Novartis Finance S.A., Luxembourg, Luxembourg 99.134% 737 670 1.625% EUR 600 2014 2026 Novartis Finance S.A., Luxembourg, Luxembourg 99.697% 735 670 0.250% CHF 500 2015 2025 Novartis AG, Basel, Switzerland 100.640% 568 517 0.625% CHF 550 2015 2029 Novartis AG, Basel, Switzerland 100.502% 625 568 1.050% CHF 325 2015 2035 Novartis AG, Basel, Switzerland 100.479% 369 336 3.000% USD 1 750 2015 2025 Novartis Capital Corporation, New York, United States 99.010% 1 737 1 735 4.000% USD 1 250 2015 2045 Novartis Capital Corporation, New York, United States 98.029% 1 220 1 219 0.125% EUR 1 250 2016 2023 Novartis Finance S.A., Luxembourg, Luxembourg 99.127% 1 530 1 392 0.625% EUR 500 2016 2028 Novartis Finance S.A., Luxembourg, Luxembourg 98.480% 607 553 1.800% USD 1 000 2017 2020 Novartis Capital Corporation, New York, United States 99.609% 1 000 2.400% USD 1 000 2017 2022 Novartis Capital Corporation, New York, United States 99.449% 998 996 3.100% USD 1 000 2017 2027 Novartis Capital Corporation, New York, United States 99.109% 992 990 0.000% EUR 1 250 2017 2021 Novartis Finance S.A., Luxembourg, Luxembourg 99.133% 1 536 1 396 1.125% EUR 600 2017 2027 Novartis Finance S.A., Luxembourg, Luxembourg 99.874% 735 670 0.500% EUR 750 2018 2023 Novartis Finance S.A., Luxembourg, Luxembourg 99.655% 919 837 1.375% EUR 750 2018 2030 Novartis Finance S.A., Luxembourg, Luxembourg 99.957% 920 838 1.700% EUR 750 2018 2038 Novartis Finance S.A., Luxembourg, Luxembourg 99.217% 913 832 1.750% USD 1 000 2020 2025 Novartis Capital Corporation, New York, United States 99.852% 996 2.000% USD 1 250 2020 2027 Novartis Capital Corporation, New York, United States 99.909% 1 245 2.200% USD 1 500 2020 2030 Novartis Capital Corporation, New York, United States 99.869% 1 493 2.750% USD 1 250 2020 2050 Novartis Capital Corporation, New York, United States 97.712% 1 213 0.000% 1 EUR 1 850 2020 2028 Novartis Finance S.A., Luxembourg, Luxembourg 99.354% 2 255 Total straight bonds 28 298 22 167 1 |
Non-current financial debt including current portion by maturity | (USD millions) 2020 2019 2020 2 002 2021 2 272 2 067 2022 2 631 2 583 2023 2 546 2 321 2024 2 142 2 139 2025 3 302 2 252 After 2025 15 638 8 991 Total 28 531 22 355 |
Non-current financial debt including current portion by currency | (USD millions) 2020 2019 US dollar (USD) 15 848 12 889 Euro (EUR) 10 888 7 861 Japanese yen (JPY) 194 184 Swiss franc (CHF) 1 563 1 421 Others 38 Total 28 531 22 355 |
Comparison of balance sheet and fair value of total non-current financial debt including current portion | 2020 2020 2019 2019 Straight bonds 28 298 31 359 22 167 23 701 Others 233 233 188 188 Total 28 531 31 592 22 355 23 889 |
Provisions and other non-curr_2
Provisions and other non-current liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of detailed information about provisions and non-current liabilities [abstract] | |
Disclosure of other provisions [text block] | (USD millions) 2020 2019 Accrued liability for employee benefits: Defined benefit pension plans 1 3 538 3 469 Other long-term employee benefits and deferred compensation 637 546 Other post-employment benefits 1 543 612 Environmental remediation provisions 642 592 Provisions for product liabilities, governmental investigations and other legal matters 181 200 Contingent consideration 2 984 958 Other non-current liabilities 409 255 Total provisions and other non-current liabilities 6 934 6 632 1 2 |
Accrual for environmental loss contingencies [table text block] | (USD millions) 2020 2019 2018 January 1 714 692 761 Cash payments – 10 – 30 – 48 Releases 1 – 27 – 83 – 21 Additions 2 82 124 7 Currency translation effects 50 11 – 7 December 31 809 714 692 Less current provision – 167 – 122 – 58 Non-current environmental remediation provisions at December 31 642 592 634 1 2 |
Accrual for environmental loss contingencies, fiscal year maturity [table text block] | Expected Due within two years 181 Due later than two years, but within five years 210 Due later than five years, but within 10 years 338 Due after 10 years 80 Total environmental remediation liability provisions 809 |
Accrual for product liabilities government investigations other legal matters loss contingencies [table text block] | (USD millions) 2020 2019 2018 January 1 1 369 340 351 Provisions related to 1 Impact of acquisitions of businesses 11 10 Cash payments – 1 863 – 116 – 118 Releases of provisions 2 – 31 – 52 – 107 Additions to provisions 3 1 018 1 230 220 Currency translation effects – 17 – 1 – 6 December 31 487 1 369 340 Less current portion – 306 – 1 169 – 126 Non-current product liabilities, governmental investigations and other legal matters provisions at December 31 181 200 214 1 2 3 |
Current financial debt and de_2
Current financial debt and derivative financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of current financial debt and derivative instruments [abstract] | |
Current financial debt and derivative instruments | (USD millions) 2020 2019 Interest-bearing accounts of associates 1 Bank and other financial debt 2 976 719 Commercial paper 4 258 2 289 Current portion of non-current financial debt 2 272 2 002 Derivative financial instruments 194 185 Total current financial debt and derivative financial instruments 9 785 7 031 1 2 |
Provisions and other current _2
Provisions and other current liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of provisions and other current liabilities [abstract] | |
Provisions and other current liabilities | (USD millions) 2020 2019 Taxes other than income taxes 749 471 Restructuring provisions 459 438 Accrued expenses for goods and services received but not invoiced 1 167 1 046 Accruals for royalties 732 653 Accrued interests on financial debt 133 98 Provisions for deductions from revenue 6 256 5 595 Accruals for compensation and benefits, including social security 2 286 2 464 Environmental remediation liabilities 167 122 Deferred income 56 114 Provisions for product liabilities, governmental investigations and other legal matters 1 306 1 169 Accrued share-based payments 269 326 Contingent considerations 2 62 78 Commitment for repurchase of own shares 3 1 769 Other payables 716 764 Total provisions and other current liabilities 15 127 13 338 1 2 3 |
Provisions for reduction of revenue | Income statement charge 2 Revenue 1 2020 US-specific healthcare plans Non-US-specific healthcare plans Non-healthcare plans and program-related rebates, returns and other deductions 1 845 67 – 11 137 – 51 11 094 113 1 931 Total 2020 5 595 234 – 19 294 – 151 19 773 99 6 256 2019 US-specific healthcare plans Non-US-specific healthcare plans Non-healthcare plans and program-related rebates, returns and other deductions 1 754 – 166 9 – 11 698 – 25 11 868 103 1 845 Total 2019 5 262 – 194 – 10 – 19 348 – 220 20 001 104 5 595 2018 US-specific healthcare plans Non-US-specific healthcare plans Non-healthcare plans and program-related rebates, returns and other deductions 1 726 – 51 – 12 227 – 91 11 956 441 1 754 Total 2018 4 672 – 129 – 18 567 – 98 19 052 332 5 262 1 2 |
Restructuring provisions movements | (USD millions) 2020 2019 2018 January 1 438 507 153 Provisions related to 1 Additions 2 354 492 534 Cash payments – 268 – 479 – 145 Releases 3 – 87 – 72 – 33 Currency translation effects 22 – 2 – 2 December 31 459 438 507 1 2 3 |
Details to the consolidated s_2
Details to the consolidated statements of cash flows (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of details to the consolidated statements of cash flows [abstract] | |
Adjustments for non-cash items from continuing operations | (USD millions) 2020 2019 2018 Depreciation, amortization and impairments on: Property, plant and equipment 1 758 1 547 1 783 Right-of-use assets 1 330 305 Intangible assets 4 376 3 974 3 428 Financial assets 2 – 335 – 38 6 Change in provisions and other non-current liabilities 1 411 1 871 895 Gains on disposal and other adjustments on property, plant and equipment; intangible assets; Equity-settled compensation expense 738 758 673 Income from associated companies 3 – 673 – 659 – 6 438 Taxes 1 807 1 793 1 295 Net financial expense 947 805 746 Total 9 881 9 122 1 486 1 2 3 |
Cash flows from changes in working capital and other operating items included in operating cash flow from continuing operations | (USD millions) 2020 2019 2018 (Increase) in inventories – 543 – 382 – 387 Decrease/(increase) in trade receivables 137 – 980 – 544 (Decrease)/increase in trade payables – 324 553 252 Change in other current assets 229 – 160 316 Change in other current liabilities 211 1 167 941 Other adjustments, net – 1 1 – 2 Total – 291 199 576 |
Cash flows arising from acquisitions and divestments of businesses | (USD millions) Note 2020 2019 2018 Net assets recognized as a result of acquisitions of businesses 24 – 10 173 – 4 124 – 13 660 Fair value of previously held equity interests 7 33 Contingent consideration payables, net 98 242 – 5 Payments, deferred consideration and other adjustments, net 62 – 2 – 36 Cash flows used for acquisitions of businesses – 10 006 – 3 851 – 13 701 Cash flows from divestments of businesses, net 1 49 91 18 Cash flows used for acquisitions and divestments of businesses, net – 9 957 – 3 760 – 13 683 1 |
Reconciliation of liabilities arising from financing activities | Current January 1, 2020 20 353 7 031 1 703 246 Increase in non-current financial debts 7 126 Repayments of non-current financial debts – 2 003 Change in current financial debts 2 261 Payments of lease liabilities, net – 312 Interest payments for amounts included in lease liabilities New leases 221 73 Impact of acquisitions of businesses 32 36 8 Changes in fair values, and other changes, net – 1 – 30 65 Amortization of bonds discount 16 5 Currency translation effects 832 392 39 12 Reclassification from non-current to current, net – 2 067 2 067 – 250 250 December 31, 2020 26 259 9 785 1 719 286 Current January 1, 2019 22 470 9 678 Impact of adoption of IFRS 16 Leases continuing operations 1 – 2 – 1 1 471 268 Impact of adoption of IFRS 16 Leases discontinued operations 2 – 89 246 40 Financial debts and lease liabilities related to discontinued operations 3 – 47 – 246 – 40 Increase in non-current financial debts 93 Repayments of non-current financial debts – 3 195 Change in current financial debts – 1 582 Payments of lease liabilities, net – 273 Interest payments for amounts included in lease liabilities New leases 362 131 Impact of acquisitions and divestments of businesses 2 – 11 – 6 Changes in fair values, and other changes, net 129 33 20 Amortization of bonds discount 25 Currency translation effects – 141 44 4 1 Reclassification from non-current to current, net – 2 003 2 003 – 156 156 December 31, 2019 20 353 7 031 1 703 246 1 2 3 Current January 1, 2018 23 224 5 308 Increase in non-current financial debts 1 2 856 Repayments of non-current financial debts 2 – 366 Change in current financial debts 3 1 681 Impact of acquisitions of businesses 10 4 Changes in fair values, and other changes 5 – 48 Amortization of bonds discount 27 2 Currency translation effects – 462 – 93 Current portion of non-current financial debt – 3 190 3 190 December 31, 2018 22 470 9 678 1 2 3 |
Acquisitions of businesses (Tab
Acquisitions of businesses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of acquisition of businesses [abstract] | |
Fair value of assets and liabilities arising from acquisitions | (USD millions) 2020 2019 2018 Property, plant and equipment 26 44 137 Right-of-use assets 32 Currently marketed products 196 3 550 2 531 Acquired research and development 8 600 342 10 224 Other intangible assets 218 22 1 Deferred tax assets 476 60 381 Non-current financial and other assets 49 8 19 Inventories 84 195 20 Trade receivables and financial and other current assets 109 4 90 Cash and cash equivalents 76 1 112 Deferred tax liabilities – 1 977 – 107 – 2 874 Current and non-current financial debts – 32 – 2 – 14 Current and non-current lease liabilities – 44 Trade payables and other liabilities – 144 – 178 – 627 Net identifiable assets acquired 7 669 3 938 11 000 Acquired cash and cash equivalents – 76 – 1 112 Non-controlling interests – 26 Goodwill 2 580 186 4 084 Net assets recognized as a result of acquisitions of businesses 1 10 173 4 124 13 946 1 |
Post-employment benefits for _2
Post-employment benefits for associates (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Statement [line items] | |
Summary of the funded and unfunded defined benefit obligation for pension and other post retirement benefit plans table | Pension plans Other post-employment benefit plans (USD millions) 2020 2019 2020 2019 Benefit obligation at January 1 23 066 22 179 746 1 073 Benefit obligations related to discontinued operations 1 – 662 – 385 Current service cost 372 336 11 13 Interest cost 222 330 20 29 Past service costs and settlements – 102 – 168 1 Administrative expenses 24 24 Remeasurement losses/(gains) arising from changes in financial assumptions 1 166 1 791 40 76 Remeasurement (gains)/losses arising from changes in demographic assumptions – 28 – 193 – 13 – 9 Experience-related remeasurement losses/(gains) 159 184 – 132 – 22 Currency translation effects 1 810 283 – 7 Benefit payments – 1 264 – 1 256 – 33 – 30 Contributions of associates 186 169 Effect of acquisitions, divestments or transfers – 9 49 – 1 1 Benefit obligation at December 31 25 602 23 066 632 746 Fair value of plan assets at January 1 19 810 18 838 134 119 Plan assets related to discontinued operations 1 – 424 – 40 Interest income 166 257 4 3 Return on plan assets excluding interest income 1 318 1 656 4 10 Currency translation effects 1 620 304 Novartis Group contributions 464 420 – 20 74 Contributions of associates 186 169 Settlements 15 – 193 Benefit payments – 1 264 – 1 256 – 33 – 30 Effect of acquisitions, divestments or transfers 2 39 – 2 Fair value of plan assets at December 31 22 317 19 810 89 134 Funded status – 3 285 – 3 256 – 543 – 612 Limitation on recognition of fund surplus at January 1 – 65 – 68 Change in limitation on recognition of fund surplus (incl. exchange rate differences) 16 7 Interest income on limitation of fund surplus – 2 – 4 Limitation on recognition of fund surplus at December 31 – 51 – 65 Net liability in the balance sheet at December 31 – 3 336 – 3 321 – 543 – 612 1 |
Reconciliation of the net liability table | Pension plans Other post-employment benefit plans (USD millions) 2020 2019 2020 2019 Net liability at January 1 – 3 321 – 3 409 – 612 – 954 Less: net liability related to discontinued operations 1 238 345 Current service cost – 372 – 336 – 11 – 13 Net interest expense – 58 – 77 – 16 – 26 Administrative expenses – 24 – 24 Past service costs and settlements 117 – 25 – 1 Remeasurements 21 – 126 109 – 35 Currency translation effects – 190 21 7 Novartis Group contributions 464 420 – 20 74 Effect of acquisitions, divestments or transfers 11 – 10 1 – 3 Change in limitation on recognition of fund surplus 16 7 Net liability at December 31 – 3 336 – 3 321 – 543 – 612 Amounts recognized in the consolidated balance sheet Prepaid benefit cost 202 148 Accrued benefit liability – 3 538 – 3 469 – 543 – 612 1 |
Principal weighted average actuarial assumptions | Pension plans Other post-employment benefit plans 2020 2019 2018 2020 2019 2018 Weighted average assumptions used to determine benefit obligations at December 31 Discount rate 0.6% 1.0% 1.6% 2.9% 3.6% 4.4% Expected rate of pension increase 0.3% 0.3% 0.4% Expected rate of salary increase 2.7% 2.8% 2.8% Interest on savings account 0.1% 0.3% 0.8% Current average life expectancy Current average life expectancy |
The sensitivity of the defined benefit pension obligation to the principal actuarial assumptions | Change in 2020 year-end 25 basis point increase in discount rate – 885 25 basis point decrease in discount rate 942 One-year increase in life expectancy 993 25 basis point increase in rate of pension increase 589 25 basis point decrease in rate of pension increase – 143 25 basis point increase of interest on savings account 62 25 basis point decrease of interest on savings account – 30 25 basis point increase in rate of salary increase 61 25 basis point decrease in rate of salary increase – 61 |
The healthcare cost trend rate assumptions used for other post-employment benefits | 2020 2019 2018 Healthcare cost trend rate Rate to which the cost trend Year that the rate reaches |
The weighted average plan asset allocation of funded defined benefit pension plans | Pension plans Long-term Long-term Equity securities 15 40 28 27 Debt securities 20 60 34 36 Real estate 5 20 17 17 Alternative investments 0 20 13 15 Cash and other investments 0 15 8 5 Total 100 100 |
Asset allocation, investments in shares of Novartis AG | December 31, December 31, Investment in shares of Novartis AG Number of shares (in millions) 2.3 2.3 Market value (in USD billions) 0.2 0.2 |
The expected future cash flows in respect of pension and other post- employment benefit plans | Other post- Novartis Group contributions 2021 (estimated) 404 40 Expected future benefit payments 2021 1 245 40 2022 1 198 41 2023 1 191 41 2024 1 182 40 2025 1 165 40 2026–2030 5 651 181 |
Defined contribution plans | (USD millions) 2020 2019 2018 Contributions for defined contribution plans continuing operations 501 422 443 |
Pension plans | |
Statement [line items] | |
Breakdown of defined benefit obligation for pension plans and other post-employment benefit | 2020 2019 United Rest of United Rest of Benefit obligation at December 31 16 807 3 788 5 007 25 602 15 106 3 552 4 408 23 066 Thereof unfunded 701 516 1 217 670 466 1 136 By type of member Active 6 837 665 1 573 9 075 6 167 630 1 400 8 197 Deferred pensioners 1 290 1 819 3 109 1 205 1 517 2 722 Pensioners 9 970 1 833 1 615 13 418 8 939 1 717 1 491 12 147 Fair value of plan assets at December 31 16 396 2 487 3 434 22 317 14 457 2 311 3 042 19 810 Funded status – 411 – 1 301 – 1 573 – 3 285 – 649 – 1 241 – 1 366 – 3 256 |
Other post-employment benefit plans | |
Statement [line items] | |
Breakdown of defined benefit obligation for pension plans and other post-employment benefit | 2020 2019 United Rest of United Rest of Benefit obligation at December 31 543 89 632 658 88 746 Thereof unfunded 454 89 543 524 88 612 By type of member Active 80 25 105 121 36 157 Deferred pensioners 17 0 17 15 0 15 Pensioners 446 64 510 522 52 574 Fair value of plan assets at December 31 89 0 89 134 0 134 Funded status – 454 – 89 – 543 – 524 – 88 – 612 |
Equity-based participation pl_2
Equity-based participation plans for associates (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Statement [line items] | |
Expense related to all equity-based participation and liabilities arising from equity-based payment transactions | (USD millions) 2020 2019 2018 Expense related to equity-based Liabilities arising from equity-based payment transactions 269 326 273 |
Schedule of unvested restricted stock units roll forward | 2020 2019 Weighted Weighted Non-vested shares at January 1 25.8 71.1 1 835 25.7 77.1 1 981 Granted – Annual Incentive 1.1 93.7 103 1.1 78.4 86 – Share savings plans 4.2 95.0 399 4.2 83.0 349 – Select North America 3.3 86.7 286 5.3 64.0 339 – Select outside North America 2.0 89.4 179 2.6 67.4 175 – Long-Term Performance Plan 2.5 85.1 213 2.5 68.9 172 – Long-Term Relative Performance Plan 1 0.2 0.0 0 0.1 0.0 0 – Other share awards 1.5 78.0 117 1.9 67.7 129 Vested – 13.8 74.2 – 1 024 – 13.3 80.3 – 1 068 Forfeited – 2.0 75.3 – 151 – 4.3 76.3 – 328 Non-vested shares at December 31 24.8 78.9 1 957 25.8 71.1 1 835 1 At April 8, 2019, the Alcon spin-off date, all RSU and PSU holders, who were not entitled to the dividend in kind in the form of Alcon shares received keep whole awards in Novartis shares to compensate for the loss of the Alcon value from their Novartis shares. These keep whole awards were accounted for as a modification. As they did not increase the value of the original grant, they did not lead to additional expense. In the table above, this is reflected by a zero fair value at grant date amount. |
Select outside North America | |
Statement [line items] | |
Disclosure of number and weighted average remaining contractual life of outstanding share options | 2020 2019 Weighted Weighted Options outstanding Sold or exercised – 0.8 57.3 – 2.2 58.4 Outstanding at December 31 2.6 62.0 3.4 60.9 Exercisable at December 31 2.6 62.0 3.4 60.9 |
Disclosure of range of exercise prices of outstanding share options | Total/ Number outstanding (millions) 0.4 0.8 1.4 2.6 Remaining contractual life (years) 0.0 1.0 2.0 1.4 Exercise price (USD) 57.0 57.6 66.0 62.0 |
Select North America | |
Statement [line items] | |
Disclosure of number and weighted average remaining contractual life of outstanding share options | 2020 2019 Weighted Weighted Options outstanding Sold or exercised – 2.9 59.6 – 5.6 58.6 Outstanding at December 31 6.7 62.9 9.6 61.9 Exercisable at December 31 6.7 62.9 9.6 61.9 |
Disclosure of range of exercise prices of outstanding share options | Total/ Number outstanding (millions) 0.4 2.3 4.0 6.7 Remaining contractual life (years) 0.0 1.0 2.0 1.5 Exercise price (USD) 57.0 58.3 66.1 62.9 |
Transactions with related par_2
Transactions with related parties (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of transactions between related parties [abstract] | |
Executive Officers and Non-Executive Directors Compensation | Executive Officers Non-Executive Directors Total (USD millions) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Cash and other compensation 25.6 20.7 22.5 4.6 4.1 4.0 30.2 24.8 26.5 Post-employment benefits 2.7 2.6 2.5 2.7 2.6 2.5 Equity-based compensation 41.1 40.6 42.5 5.2 4.6 4.8 46.3 45.2 47.3 Total 69.4 63.9 67.5 9.8 8.7 8.8 79.2 72.6 76.3 |
Transactions with former members of the Board of Directors | Currency 2020 2019 2018 Dr. Krauer CHF 60 000 60 000 60 000 Dr. Vasella CHF 18 228 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and contingencies [abstract] | |
Leasing commitments | (USD millions) 2020 2021 449 2022 691 2023 325 2024 483 2025 281 Thereafter 3 003 Total 5 232 |
Financial instruments - addit_2
Financial instruments - additional disclosures (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial Instruments - additional disclosure [abstract] | |
Disclosure of financial assets and financial liabilities | 2020 Financial Cash and cash equivalents 16 9 658 Time deposits and short-term investments with original maturity more than 90 days 16 1 609 Trade receivables 15 8 217 Other current assets 17 963 Marketable securities - debt securities 16 26 Long-term financial investments - equity securities 13 1 111 466 Long-term financial investments - debt securities 13 36 Long-term financial investments - fund investments 13 366 Long-term loans, advances, security deposits and other long-term receivables 13 297 Associated companies at fair value through profit and loss 211 Derivative financial instruments 16 159 Contingent consideration receivables 13 625 Total financial assets 20 744 1 173 1 827 Interest-bearing accounts of associates payable on demand 21 2 085 Bank and other short-term financial debt 21 976 Commercial paper 21 4 258 Straight bonds 19 28 298 Long-term liabilities to banks and other financial institutions 19 233 Trade payables 5 403 Commitment for repurchase of own shares 18/22 1 769 Contingent consideration liabilities (see Note 20/22) and other financial liabilities 1 069 Derivative financial instruments 21 194 Lease liabilities 10 2 005 Total financial liabilities 43 022 1 263 2 005 2019 Financial Cash and cash equivalents 16 11 112 Time deposits and short-term investments with original maturity more than 90 days 16 61 Trade receivables 15 8 301 Other current assets 17 2 036 Marketable securities - debt securities 16 24 Marketable securities - fund investments 16 37 Long-term financial investments - equity securities 13 1 158 366 Long-term financial investments - debt securities 13 33 Long-term financial investments - fund investments 13 233 Long-term loans, advances, security deposits and other long-term receivables 13 329 Associated companies at fair value through profit and loss 186 Derivative financial instruments 16 102 Contingent consideration receivables 13 399 Total financial assets 21 839 1 215 1 323 Interest-bearing accounts of associates payable on demand 21 1 836 Bank and other short-term financial debt 21 719 Commercial paper 21 2 289 Straight bonds 19 22 167 Long-term liabilities to banks and other financial institutions 19 188 Trade payables 5 424 Contingent consideration liabilities (see Note 20/22) and other financial liabilities 1 065 Derivative financial instruments 21 185 Lease liabilities 10 1 949 Total financial liabilities 32 623 1 250 1 949 |
Derivative financial instruments | Contract or underlying principal amount Positive fair values Negative fair values (USD millions) 2020 2019 2020 2019 2020 2019 Forward foreign exchange rate contracts 13 679 10 779 151 96 – 165 – 75 Commodity purchase contract 11 9 8 6 Options on equity securities 70 269 – 29 – 110 Total derivative financial instruments included in marketable securities and in current financial debts 13 760 11 057 159 102 – 194 – 185 |
Contract or underlying principal amount the derivative financial instruments, by currency | 2020 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 2 432 6 376 4 871 13 679 Commodity purchase contract 11 11 Options on equity securities 70 70 Total derivative financial instruments 2 432 6 457 4 871 13 760 2019 (USD millions) EUR USD Other Total Forward foreign exchange rate contracts 1 373 7 760 1 646 10 779 Commodity purchase contract 9 9 Options on equity securities 250 19 269 Total derivative financial instruments 1 373 8 019 1 665 11 057 |
Fair value by hierarchy | 2020 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Debt securities 26 26 Total marketable securities 26 26 Derivative financial instruments 159 159 Total marketable securities and derivative financial instruments 185 185 Debt and equity securities 1 153 460 1 613 Fund investments 366 366 Contingent consideration receivables 625 625 Total long-term financial investments 1 153 1 451 2 604 Associated companies at fair value through profit and loss 211 211 Financial liabilities Contingent consideration payables – 1 046 – 1 046 Other financial liabilities – 23 – 23 Derivative financial instruments – 194 – 194 Total financial liabilities at fair value – 194 – 1 069 – 1 263 2019 (USD millions) Level 1 Level 2 Level 3 Total Financial assets Debt securities 24 24 Fund investments 37 37 Total marketable securities 37 24 61 Derivative financial instruments 102 102 Total marketable securities and derivative financial instruments 37 126 163 Debt and equity securities 976 581 1 557 Fund investments 233 233 Contingent consideration receivables 399 399 Total long-term financial investments 976 1 213 2 189 Associated companies at fair value through profit and loss 186 186 Financial liabilities Contingent consideration payables – 1 036 – 1 036 Other financial liabilities – 29 – 29 Derivative financial instruments – 185 – 185 Total financial liabilities at fair value – 185 – 1 065 – 1 250 |
Reconciliation of changes in fair value measurement | 2020 Associated January 1 186 233 581 399 – 1 036 – 29 Fair value gains and other adjustments, Fair value losses (including impairments and Fair value adjustments recognized in the consolidated statement Purchases 24 17 123 43 – 123 Cash receipts and payments – 30 63 11 Disposals – 23 – 61 – 109 Reclassification – 19 31 – 163 – 4 December 31 211 366 460 625 – 1 046 – 23 Total of fair value gains and losses recognized 2019 Associated January 1 145 251 488 396 – 907 – 10 Impact from discontinued operations 1 – 28 – 19 163 Fair value gains and other adjustments, Fair value losses (including impairments and Fair value adjustments recognized in the consolidated statement Purchases 49 28 229 – 401 – 5 Cash receipts and payments – 32 3 33 Disposals – 3 – 30 – 53 Reclassification 10 – 64 December 31 186 233 581 399 – 1 036 – 29 Total of fair value gains and losses recognized 1 |
Equity securities measured at fair value through other comprehensive income | (USD millions) 2020 2019 Listed equity securities 862 843 Non-listed equity securities 249 315 Total equity securities 1 111 1 158 |
Monitoring of net debt or liquidity based on contractual maturities | 2020 Due later than Due later than Due later than Current assets Marketable securities, time deposits and short-term Commodities 111 111 Derivative financial instruments and accrued interest 38 110 4 4 3 159 Cash and cash equivalents 8 558 1 100 9 658 Total current financial assets 8 609 2 781 29 9 135 11 563 Non-current liabilities Financial debt – 10 621 – 15 638 – 26 259 Financial debt - undiscounted – 10 661 – 15 802 – 26 463 Total non-current financial debt – 10 621 – 15 638 – 26 259 Current liabilities Financial debt – 4 195 – 2 218 – 3 178 – 9 591 Financial debt - undiscounted – 4 195 – 2 219 – 3 179 – 9 593 Derivative financial instruments – 93 – 84 – 17 – 194 Total current financial debt – 4 288 – 2 302 – 3 195 – 9 785 Net debt 4 321 479 – 3 166 – 10 612 – 15 503 – 24 481 2019 Due later than Due later than Due later than Current assets Marketable securities, time deposits and short-term Commodities 110 110 Derivative financial instruments and accrued interest 14 79 3 3 3 102 Cash and cash equivalents 9 712 1 400 11 112 Total current financial assets 9 746 1 505 19 6 170 11 446 Non-current liabilities Financial debt – 9 110 – 11 243 – 20 353 Financial debt - undiscounted – 9 150 – 11 355 – 20 505 Total non-current financial debt – 9 110 – 11 243 – 20 353 Current liabilities Financial debt – 4 243 – 1 373 – 1 230 – 6 846 Financial debt - undiscounted – 4 243 – 1 373 – 1 230 – 6 846 Derivative financial instruments – 130 – 29 – 26 – 185 Total current financial debt – 4 373 – 1 402 – 1 256 – 7 031 Net debt 5 373 103 – 1 237 – 9 104 – 11 073 – 15 938 |
Derivative financial instruments and accrued interest on derivative financial instruments | 2020 Due later than Due later than Derivative financial instruments and accrued interest on derivative financial instruments Potential outflows in various currencies - from financial derivative liabilities – 930 – 4 096 – 719 – 5 745 Potential inflows in various currencies - from financial derivative assets 904 4 114 710 5 728 2019 Due later than Due later than Derivative financial instruments and accrued interest on derivative financial instruments Potential outflows in various currencies - from financial derivative liabilities – 814 – 4 624 – 952 – 6 390 Potential inflows in various currencies - from financial derivative assets 807 4 656 922 6 385 |
Other contractual liabilities of the net debt or liquidity | 2020 Due later than Due later than Contractual interest on non-current liabilities – 82 – 468 – 1 846 – 4 251 – 6 647 Lease liabilities – 77 – 209 – 692 – 1 027 – 2 005 Trade payables – 5 239 – 164 – 5 403 Commitment for repurchase of own shares – 1 769 – 1 769 Contingent consideration liabilities – 24 – 38 – 639 – 345 – 1 046 2019 Due later than Due later than Contractual interest on non-current liabilities – 36 – 428 – 1 531 – 3 439 – 5 434 Lease liabilities – 65 – 181 – 622 – 1 081 – 1 949 Trade payables – 5 222 – 202 – 5 424 Contingent consideration liabilities – 62 – 9 – 582 – 383 – 1 036 |
Ten day loss fair value VAR model | (USD millions) 2020 2019 All financial instruments 587 355 Analyzed by components: Instruments sensitive to foreign Instruments sensitive to equity Instruments sensitive to interest rates 197 187 |
Ten day loss fair value VAR model, average, high, and low VAR amounts | 2020 (USD millions) Average High Low All financial instruments 568 659 322 Analyzed by components: Instruments sensitive to foreign Instruments sensitive to equity Instruments sensitive to 2019 (USD millions) Average High Low All financial instruments 348 385 303 Analyzed by components: Instruments sensitive to foreign Instruments sensitive to equity Instruments sensitive to |
Discontinued operations (Tables
Discontinued operations (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Statement [line items] | |
Respective Useful Lives of Available-for-Use Intangible Assets | Income statement location Currently marketed products 5 to 20 years "Cost of goods sold" Technologies 10 to 20 years "Cost of goods sold" Other (including 3 to 7 years In the respective |
Defined contribution plans | (USD millions) 2020 2019 2018 Contributions for defined contribution plans continuing operations 501 422 443 |
Discontinued operations | |
Statement [line items] | |
Consolidated income statement, discontinued operations | (USD millions) 2019 1 2018 Net sales to third parties from Sales to continuing segments 32 4 Net sales from discontinued operations 1 809 7 153 Cost of goods sold – 860 – 3 983 Gross profit from discontinued operations 949 3 170 Selling, general and administration – 638 – 2 754 Research and development – 142 – 585 Other income 15 61 Other expense – 113 – 126 Operating income/(loss) from discontinued operations 71 – 234 Interest expense – 10 – 25 Other financial income and expense – 3 – 1 Income/(loss) before taxes from discontinued operations 58 – 260 Taxes – 159 74 Net loss from discontinued operations Gain on distribution of Alcon Inc. to Novartis AG shareholders 2 4 691 Net income/(loss) from discontinued operations 4 590 – 186 1 2 |
Consolidated income statement, additional information | (USD millions) 2019 2018 Interest income 2 Depreciation of property, plant and equipment – 42 – 235 Depreciation of right-of-use assets – 9 Amortization of intangible assets – 174 – 1 052 Impairment charges on property, plant and equipment – 3 Impairment charges on intangible assets 1 – 391 Additions to restructuring provisions – 13 Equity-based compensation of Novartis equity plans – 9 – 93 1 |
Respective Useful Lives of Available-for-Use Intangible Assets | Income statement location Marketing know-how 25 years "Cost of goods sold" Alcon brand name Not amortized, "Other expense" |
Balance sheet, additional information | (USD millions) 2019 Additions to property, plant and equipment 113 Additions to right-of-use assets 3 Additions to goodwill and intangible assets 36 |
Cash flows used in investing activities | (USD millions) 2020 2019 2018 Payments attributable Divested cash and cash equivalents – 628 Cash flows attributable to the spin-off of the Alcon business – 39 – 657 Other cash flows used in investing activities, net – 88 – 502 – 1 001 Net cash flows used in investing activities from discontinued operations – 127 – 1 159 – 1 001 |
Disclosure of net assets derecognized | (USD millions) 2019 Property, plant and equipment 2 858 Right-of-use assets 269 Goodwill 8 906 Intangible assets other than goodwill 11 121 Deferred tax assets 732 Financial and other non-current assets 526 Inventories 1 469 Trade receivables and other current assets 1 787 Cash and cash equivalents 628 Deferred tax liabilities – 1 713 Current and non-current lease liabilities – 269 Current and non-current financial debts – 3 538 Trade payables, provisions and other liabilities – 2 751 Net assets derecognized 20 025 |
Defined contribution plans | (USD millions) 2019 2018 Contributions for defined contribution plans discontinued operations 33 104 |
Principal Group subsidiaries _2
Principal Group subsidiaries and associated companies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of subsidiaries [abstract] | |
Principal Group subsidiaries and associated companies | Share 1 Equity Algeria Société par actions SANDOZ Algiers DZD 650.0 m 100% Argentina Novartis Argentina S.A. Buenos Aires ARS 906.1 m 100% Australia Novartis Australia Pty Ltd Macquarie Park, NSW AUD 2 100% Novartis Pharmaceuticals Australia Pty Ltd Macquarie Park, NSW AUD 3.8 m 100% Sandoz Pty Ltd Macquarie Park, NSW AUD 11.6 m 100% Austria Novartis Austria GmbH Vienna EUR 1.0 m 100% Novartis Pharma GmbH Vienna EUR 1.1 m 100% Sandoz GmbH Kundl EUR 32.7 m 100% EBEWE Pharma Ges.m.b.H Nfg. KG Unterach am Attersee EUR 1.0 m 100% Bangladesh Novartis (Bangladesh) Limited Gazipur BDT 162.5 m 60% Belgium Novartis Pharma NV Vilvoorde EUR 7.1 m 100% Sandoz NV Vilvoorde EUR 19.2 m 100% Alcon - Couvreur NV Puurs EUR 110.6 m 100% Bermuda Novartis Investment Ltd. Hamilton USD 12 000 100% Novartis Securities Investment Ltd. Hamilton CHF 30 000 100% Novartis Finance Services Ltd. Hamilton CHF 20 000 100% Triangle International Reinsurance Limited Hamilton CHF 1.0 m 100% Trinity River Insurance Co Ltd. Hamilton USD 370 000 100% Brazil Novartis Biociências S.A. São Paulo BRL 265.0 m 100% Sandoz do Brasil Indústria Farmacêutica Ltda. Cambé, PR BRL 190.0 m 100% Canada Novartis Pharmaceuticals Canada Inc. Dorval, Quebec CAD 1.2 m 100% Sandoz Canada Inc. Boucherville, Quebec CAD 80.8 m 100% Sandoz Manufacturing Inc. Boucherville, Quebec CAD 100 100% Chile Novartis Chile S.A. Santiago de Chile CLP 2.0 bn 100% China Beijing Novartis Pharma Co., Ltd. Beijing USD 30.0 m 100% Novartis Pharmaceuticals (HK) Limited Hong Kong HKD 200 100% China Novartis Institutes for BioMedical Research Co., Ltd. Shanghai USD 320.0 m 100% Suzhou Novartis Technical Development Co., Ltd. Changshu USD 12.0 m 100% Shanghai Novartis Trading Ltd. Shanghai USD 3.2 m 100% Sandoz (China) Pharmaceutical Co., Ltd. Zhongshan USD 57.6 m 100% Colombia Novartis de Colombia S.A. Santafé de Bogotá COP 7.9 bn 100% Croatia Sandoz d.o.o. farmaceutska industrija Zagreb HRK 25.6 m 100% Czech Republic Novartis s.r.o. Prague CZK 51.5 m 100% Sandoz s.r.o. Prague CZK 44.7 m 100% Denmark Novartis Healthcare A/S Copenhagen DKK 14.0 m 100% Sandoz A/S Copenhagen DKK 12.0 m 100% Ecuador Novartis Ecuador S.A. Quito USD 4.0 m 100% Egypt Novartis Pharma S.A.E. Cairo EGP 193.8 m 99.77% Sandoz Egypt Pharma S.A.E. New Cairo City EGP 250 000 100% Finland Novartis Finland Oy Espoo EUR 459 000 100% Share 1 Equity France Novartis Groupe France S.A. Rueil-Malmaison EUR 903.0 m 100% Novartis Pharma S.A.S. Rueil-Malmaison EUR 43.4 m 100% Advanced Accelerator Applications S.A. Saint-Genis-Pouilly EUR 76 734 99.2% CELLforCURE Les Ulis EUR 4.2 m 100% Sandoz S.A.S. Levallois-Perret EUR 5.4 m 100% Germany Novartis Deutschland GmbH Nuremberg EUR 155.5 m 100% Novartis Business Services GmbH Wehr EUR 25 000 100% Novartis Pharma GmbH Nuremberg EUR 25.6 m 100% Novartis Pharma Produktions GmbH Wehr EUR 2.0 m 100% Sandoz International GmbH Holzkirchen EUR 100 000 100% 1 A Pharma GmbH Oberhaching EUR 26 000 100% HEXAL AG Holzkirchen EUR 93.7 m 100% Salutas Pharma GmbH Barleben EUR 42.1 m 100% Aeropharm GmbH Rudolstadt EUR 26 000 100% Greece Novartis (Hellas) S.A.C.I. Metamorphosis / Athens EUR 233.9 m 100% Hungary Novartis Hungary Healthcare Limited Liability Company Budapest HUF 545.6 m 100% Sandoz Hungary Limited Liability Company Budapest HUF 883.0 m 100% India Novartis India Limited Mumbai INR 123.5 m 70.68% Novartis Healthcare Private Limited Mumbai INR 60.0 m 100% Sandoz Private Limited Mumbai INR 32.0 m 100% Indonesia PT. Novartis Indonesia Jakarta IDR 7.7 bn 100% Ireland Novartis Ireland Limited Dublin EUR 25 000 100% Novartis Integrated Services Limited Ringaskiddy, County Cork EUR 100 100% Novartis Ringaskiddy Limited Ringaskiddy, County Cork EUR 2.0 m 100% Novartis Gene Therapies EU Limited Dublin EUR 100 100% Israel Novartis Israel Ltd. Tel Aviv ILS 1 000 100% Italy Novartis Farma S.p.A. Origgio EUR 18.2 m 100% Advanced Accelerator Applications (Italy) S.r.l. Pozzilli EUR 119 000 99.2% Sandoz S.p.A. Origgio EUR 1.7 m 100% Japan Novartis Pharma K.K. Tokyo JPY 6.0 bn 100% Ciba-Geigy Japan Limited Tokyo JPY 8.5 bn 100% Sandoz K.K. Tokyo JPY 100.0 m 100% Aspen Japan K.K. Tokyo JPY 2.2 bn 100% Latvia Novartis Baltics SIA Riga EUR 3.0 m 100% Luxembourg Novartis Investments S.à r.l. Luxembourg City USD 100.0 m 100% Novartis Finance S.A. Luxembourg City USD 100 000 100% Malaysia Novartis Corporation (Malaysia) Sdn. Bhd. Kuala Lumpur MYR 3.3 m 100% Mexico Novartis Farmacéutica, S.A. de C.V. Mexico City MXN 205.0 m 100% Sandoz, S.A. de C.V. Mexico City MXN 468.2 m 100% Morocco Novartis Pharma Maroc SA Casablanca MAD 80.0 m 100% Netherlands Novartis Netherlands B.V. Amsterdam EUR 1.4 m 100% Novartis Pharma B.V. Amsterdam EUR 4.5 m 100% IDB Holland BV Baarle-Nassau EUR 18 000 99.2% Sandoz B.V. Almere EUR 907 560 100% New Zealand Novartis New Zealand Ltd Auckland NZD 820 000 100% Share 1 Equity Norway Novartis Norge AS Oslo NOK 1.5 m 100% Pakistan Novartis Pharma (Pakistan) Limited Karachi PKR 6.7 bn 99.99% Panama Novartis Pharma (Logistics), Inc. Panama City USD 10 000 100% Peru Novartis Biosciences Perú S.A. Lima PEN 6.1 m 100% Philippines Novartis Healthcare Philippines, Inc. Makati City PHP 298.8 m 100% Sandoz Philippines Corporation Makati City PHP 30.0 m 100% Poland Novartis Poland Sp. z o.o. Warsaw PLN 44.2 m 100% Sandoz Polska Sp. z o.o. Warsaw PLN 25.6 m 100% Lek S.A. Strykow PLN 11.4 m 100% Portugal Novartis Portugal, S.G.P.S., Lda. Porto Salvo EUR 500 000 100% Novartis Farma - Produtos Farmacêuticos, S.A. Porto Salvo EUR 2.4 m 100% Sandoz Farmacêutica, Lda. Porto Salvo EUR 499 900 100% Romania Novartis Pharma Services Romania S.R.L. Bucharest RON 3.0 m 100% Sandoz S.R.L. Targu-Mures RON 105.2 m 100% Russian Federation Novartis Pharma LLC Moscow RUB 20.0 m 100% Novartis Neva LLC St. Petersburg RUB 500.0 m 100% ZAO Sandoz Moscow RUB 57.4 m 100% Saudi Arabia Novartis Saudi Ltd. Riyadh SAR 30.0 m 100% Singapore Novartis (Singapore) Pte Ltd. Singapore SGD 100 000 100% Novartis Singapore Pharmaceutical Manufacturing Pte Ltd Singapore SGD 45.0 m 100% Novartis Asia Pacific Pharmaceuticals Pte Ltd Singapore SGD 39.0 m 100% Slovakia Novartis Slovakia s.r.o. Bratislava EUR 2.0 m 100% Slovenia Lek Pharmaceuticals d.d. Ljubljana EUR 48.4 m 100% Sandoz Pharmaceuticals d.d. Ljubljana EUR 1.5 m 100% South Africa Novartis South Africa (Pty) Ltd Midrand ZAR 86.3 m 100% Sandoz South Africa (Pty) Ltd Kempton Park ZAR 3.0 m 100% South Korea Novartis Korea Ltd. Seoul KRW 24.5 bn 98.55% Spain Novartis Farmacéutica, S.A. Barcelona EUR 63.0 m 100% Advanced Accelerator Applications Iberica, S.L.U. Barcelona EUR 22.6 m 99.2% Catalana de Dispensacion sau (Cadisa) Esplugues de Llobregat EUR 450 750 99.2% Sandoz Farmacéutica S.A. Madrid EUR 270 450 100% Sandoz Industrial Products S.A. Les Franqueses del Vallés / Barcelona EUR 9.3 m 100% Alcon Cusi, S.A. El Masnou / Barcelona EUR 10.1 m 100% Abadia Retuerta S.A. Sardón de Duero / Valladolid EUR 6.0 m 100% Sweden Novartis Sverige AB Stockholm SEK 5.0 m 100% Switzerland Novartis International AG Basel CHF 10.0 m 100% Novartis Holding AG Basel 3 CHF 100.2 m 100% Novartis International Pharmaceutical Investment AG Basel CHF 100 000 100% Novartis Bioventures AG Basel CHF 100 000 100% Novartis Forschungsstiftung Basel 4 -- -- -- Novartis Stiftung für Kaderausbildung Basel 4 -- -- -- Novartis Mitarbeiterbeteiligungsstiftung Basel 4 -- -- -- Novartis Stiftung für Mensch und Umwelt Basel 4 -- -- -- Stiftung der Novartis AG für Erziehung, Ausbildung und Bildung Basel 4 -- -- -- Novartis Overseas Investments AG Basel CHF 1.0 m 100% Japat AG Basel CHF 50 000 100% Novartis Pharma AG Basel 3 CHF 350.0 m 100% Novartis Pharma Services AG Basel CHF 20.0 m 100% Novartis Pharma Schweizerhalle AG Muttenz CHF 18.9 m 100% Novartis Pharma Stein AG Stein CHF 251 000 100% Novartis Pharma Schweiz AG Risch CHF 5.0 m 100% Novartis Ophthalmics AG Fribourg CHF 100 000 100% Advanced Accelerator Applications International SA Geneva CHF 9.3 m 99.2% Sandoz AG Basel CHF 5.0 m 100% Sandoz Pharmaceuticals AG Risch CHF 100 000 100% Roche Holding AG Basel CHF 160.0 m 33%/6% 2 Share 1 Equity Taiwan Novartis (Taiwan) Co., Ltd. Taipei TWD 170.0 m 100% Thailand Novartis (Thailand) Limited Bangkok THB 302.0 m 100% Turkey Novartis Saglik, Gida ve Tarim Ürünleri Sanayi ve Ticaret A.S. Istanbul TRY 98.0 m 100% Farmanova Saglik Hizmetleri Ltd. Sti. Istanbul TRY 6.7 m 100% Sandoz Ilaç Sanayi ve Ticaret A.S. Istanbul TRY 265.0 m 99.99% Sandoz Grup Saglik Ürünleri Ilaçlari Sanayi ve Ticaret A.S. Gebze - Kocaeli TRY 50.0 m 100% Ukraine Sandoz Ukraine LLC Kyiv UAH 8.0 m 100% United Arab Emirates Novartis Middle East FZE Dubai AED 7.0 m 100% United Kingdom Novartis UK Limited London GBP 25.5 m 100% Novartis Pharmaceuticals UK Limited London GBP 5.4 m 100% Novartis Grimsby Limited London GBP 250.0 m 100% Advanced Accelerator Applications (UK & Ireland) London GBP 100 99.2% Neutec Pharma Limited London GBP 7.7 m 100% Ziarco Group Limited London GBP 3 904 100% Sandoz Limited Frimley / Camberley GBP 2.0 m 100% Coalesce Product Development Limited Cambridge, Cambs GBP 6.0 m 40% United States of America Novartis Corporation East Hanover, NJ USD 72.2 m 100% Novartis Finance Corporation East Hanover, NJ 3 USD 1 000 100% Novartis Capital Corporation East Hanover, NJ USD 1 100% Novartis Services, Inc. East Hanover, NJ USD 1 100% Novartis US Foundation East Hanover, NJ 4 -- -- -- Novartis Pharmaceuticals Corporation East Hanover, NJ 3 USD 650 100% Advanced Accelerator Applications USA, Inc. Millburn, NJ USD 1 99.2% Novartis Gene Therapies, Inc. Bannockburn, IL USD 1 100% Novartis Technology LLC East Hanover, NJ -- -- -- Novartis Institutes for BioMedical Research, Inc. Cambridge, MA USD 1 100% Novartis Optogenetics Research, Inc. East Hanover, NJ USD 1 100% CoStim Pharmaceuticals Inc. Cambridge, MA USD 1 100% Endocyte, Inc. East Hanover, NJ USD 1 100% Navigate BioPharma Services, Inc. Carlsbad, CA USD 1 100% The Medicines Company East Hanover, NJ USD 1 000 100% Sandoz Inc. Princeton, NJ USD 25 000 100% Amblyotech Inc. East Hanover, NJ USD 50 100% Oriel Therapeutics, Inc. Durham, NC USD 50.0 m 100% Fougera Pharmaceuticals Inc. Melville, NY USD 1 100% Eon Labs, Inc. Princeton, NJ USD 1 100% Novartis Vaccines and Diagnostics, Inc. East Hanover, NJ USD 3 100% Venezuela Novartis de Venezuela, S.A. Caracas VES 14 100% Vietnam Novartis Vietnam Company Limited Ho Chi Minh City VND 70 bn 100% In addition, the Group is represented by subsidiaries and associated companies with total assets or net sales to third parties below USD 25 million in the following countries: Bosnia and Herzegovina, Bulgaria, Dominican Republic, Guatemala, Kenya, Kuwait, North Macedonia, Nigeria, Puerto Rico and Uruguay 1 2 3 4 m = million; bn = billion |
Significant accounting polici_4
Significant accounting policies (Details) $ in Millions | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2020SFr / shares | Dec. 31, 2019USD ($) | Apr. 08, 2019USD ($) |
Statement [line items] | ||||||
Par value per share | SFr / shares | SFr 0.50 | |||||
Operating lease commitments | $ 3,612 | |||||
New lease arrangements | (65) | |||||
Undiscounted future lease payments | $ 3,283 | |||||
Lease liabilities | 1,736 | $ 2,005 | $ 1,949 | |||
Discontinued operations [member] | ||||||
Statement [line items] | ||||||
Operating lease commitments, discontinued operations | $ 222 | |||||
Lease liabilities | 286 | $ 269 | ||||
Discontinued operations [member] | Previously stated [member] | ||||||
Statement [line items] | ||||||
Lease liabilities | $ 89 |
Significant accounting polici_5
Significant accounting policies (Details 2) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 08, 2019 | Jan. 01, 2019 |
Non-current assets [abstract] | ||||
Property, plant and equipment | $ 12,263 | $ 12,069 | ||
Right-of-use assets | 1,676 | 1,677 | $ 1,554 | |
Equity [abstract] | ||||
Reserves | 55,738 | 54,618 | ||
Current liabilities [abstract] | ||||
Current lease liabilities | $ 286 | $ 246 | ||
Increase (decrease) due to changes in accounting policy, IFRS 16 [member] | ||||
Non-current assets [abstract] | ||||
Property, plant and equipment | (101) | |||
Equity [abstract] | ||||
Reserves | 3 | |||
Current liabilities [abstract] | ||||
Current lease liabilities | 268 | |||
Discontinued operations [member] | ||||
Non-current assets [abstract] | ||||
Property, plant and equipment | $ 2,858 | |||
Right-of-use assets | $ 269 | 276 | ||
Discontinued operations [member] | Previously stated [member] | ||||
Non-current assets [abstract] | ||||
Right-of-use assets | $ 75 |
Significant transactions (Detai
Significant transactions (Details) € in Millions | Jan. 31, 2020USD ($) | Jan. 31, 2020EUR (€) | Jan. 06, 2020USD ($) | Nov. 23, 2019USD ($) | Nov. 11, 2019USD ($) | Nov. 11, 2019EUR (€) | Jul. 01, 2019USD ($) | May 07, 2019USD ($) | Apr. 08, 2019USD ($) | Dec. 21, 2018USD ($) | May 15, 2018USD ($) | Mar. 27, 2018USD ($) | Jan. 22, 2018USD ($) | Mar. 31, 2020USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2020SFr / shares | Jan. 31, 2020EUR (€) | Nov. 11, 2019EUR (€) | Apr. 09, 2019USD ($) | Mar. 06, 2019USD ($) | Sep. 06, 2018USD ($) | Apr. 06, 2018USD ($) | Oct. 30, 2017USD ($) |
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Identifiable assets acquired (liabilities assumed) | $ 10,173,000,000 | $ 4,124,000,000 | $ 13,946,000,000 | |||||||||||||||||||||||
Profit (loss) from discontinued operations | 4,590,000,000 | (186,000,000) | ||||||||||||||||||||||||
Par value per share | SFr / shares | SFr 0.50 | |||||||||||||||||||||||||
Deferred tax liability (asset) | (792,000,000) | (2,042,000,000) | (1,224,000,000) | |||||||||||||||||||||||
Intangible assets other than goodwill | 36,809,000,000 | 28,787,000,000 | ||||||||||||||||||||||||
Revenue from sale of goods | 48,659,000,000 | 47,498,000,000 | 44,833,000,000 | |||||||||||||||||||||||
Borrowings | 28,531,000,000 | 22,355,000,000 | ||||||||||||||||||||||||
Difference between carrying amount of dividends payable and carrying amount of non-cash assets distributed, Net | $ 4,691,000,000 | 4,691,000,000 | ||||||||||||||||||||||||
Alcon [member] | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Decrease of distribution liability | $ 3,000,000,000 | |||||||||||||||||||||||||
Percentage of equity interest shares received | 4.70% | |||||||||||||||||||||||||
Roche Holding AG, Switzerland | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Additional recognition, goodwill | $ 3,233,000,000 | |||||||||||||||||||||||||
Sandoz | Sandoz | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Consideration transferred, divestment-date fair value | $ 800,000,000 | |||||||||||||||||||||||||
Depreciation, property, plant and equipment | $ 38,000,000 | |||||||||||||||||||||||||
Amortisation, intangible assets other than goodwill | 102,000,000 | |||||||||||||||||||||||||
Impairment loss recognised in profit or loss, intangible assets and goodwill | $ (42,000,000) | |||||||||||||||||||||||||
Advanced Accelerator Applications (AAA) | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Portion of consideration paid (received) consisting of cash and cash equivalents | $ (3,900,000,000) | |||||||||||||||||||||||||
Identifiable assets acquired (liabilities assumed) | 1,900,000,000 | |||||||||||||||||||||||||
Additional recognition, goodwill | 2,000,000,000 | |||||||||||||||||||||||||
Revenue of acquiree since acquisition date | 400,000,000 | |||||||||||||||||||||||||
Revenue of acquiree full year | $ 400,000,000 | |||||||||||||||||||||||||
Percentage of Share capital in tender offer | 100.00% | |||||||||||||||||||||||||
Cash offer per ordinary share | $ 41 | |||||||||||||||||||||||||
Cash offer per ADS | $ 82 | |||||||||||||||||||||||||
Number of ordinary share per ADS | 2 | |||||||||||||||||||||||||
Value of equity | $ 3,900,000,000 | |||||||||||||||||||||||||
Percentage of share capital tendered at the expiration of the tender offer | 97.00% | |||||||||||||||||||||||||
Deferred tax liability (asset) | $ 600,000,000 | |||||||||||||||||||||||||
Intangible assets other than goodwill | $ 2,500,000,000 | |||||||||||||||||||||||||
Total percentage of share capital tendered after the subsequent offering period of the tender offer | 98.70% | |||||||||||||||||||||||||
Percentage of share capital tendered at the subsequent offering period of the tender offer | 1.80% | |||||||||||||||||||||||||
Consideration paid for share capital tendered at the subsequent offering period of the tender offer | $ 60,000,000 | |||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.20% | |||||||||||||||||||||||||
Aspen Global Incorporated | Sandoz | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Consideration transferred, acquisition-date fair value | $ 324,000,000 | € 294 | ||||||||||||||||||||||||
Portion of consideration paid (received) consisting of cash and cash equivalents | (273,000,000) | € (247) | $ (336,000,000) | € (300) | ||||||||||||||||||||||
Portion of consideration paid consisting of cash and cash equivalents upfront payment | (303,000,000) | (274) | ||||||||||||||||||||||||
Contingent liabilities recognised as of acquisition date | 51,000,000 | $ 112,000,000 | € 47 | € 100 | ||||||||||||||||||||||
Identifiable assets acquired (liabilities assumed) | 238,000,000 | |||||||||||||||||||||||||
Additional recognition, goodwill | 86,000,000 | |||||||||||||||||||||||||
Other net assets | 26,000,000 | |||||||||||||||||||||||||
Deferred tax liability (asset) | 16,000,000 | |||||||||||||||||||||||||
Intangible assets other than goodwill | 196,000,000 | |||||||||||||||||||||||||
Potential milestone maximum payments | 77,000,000 | 70 | ||||||||||||||||||||||||
Customary purchase price adjustment | $ 30,000,000 | € 27 | ||||||||||||||||||||||||
The Medicines Company | Innovative Medicines | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Consideration transferred, acquisition-date fair value | $ 9,600,000,000 | |||||||||||||||||||||||||
Portion of consideration paid (received) consisting of cash and cash equivalents | $ (9,600,000,000) | |||||||||||||||||||||||||
Identifiable assets acquired (liabilities assumed) | 7,100,000,000 | |||||||||||||||||||||||||
Additional recognition, goodwill | 2,500,000,000 | |||||||||||||||||||||||||
Cash offer per ordinary share | $ 85 | |||||||||||||||||||||||||
Deferred tax liability (asset) | 1,400,000,000 | |||||||||||||||||||||||||
Intangible assets other than goodwill | $ 8,500,000,000 | |||||||||||||||||||||||||
AveXis, Inc. | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Portion of consideration paid (received) consisting of cash and cash equivalents | $ (8,700,000,000) | |||||||||||||||||||||||||
Identifiable assets acquired (liabilities assumed) | 7,200,000,000 | |||||||||||||||||||||||||
Additional recognition, goodwill | 1,500,000,000 | |||||||||||||||||||||||||
Cash offer per ordinary share | $ 218 | |||||||||||||||||||||||||
Other net assets | 300,000,000 | |||||||||||||||||||||||||
Deferred tax liability (asset) | 1,600,000,000 | |||||||||||||||||||||||||
Intangible assets other than goodwill | $ 8,500,000,000 | |||||||||||||||||||||||||
Endocyte | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Consideration transferred, acquisition-date fair value | $ 2,100,000,000 | |||||||||||||||||||||||||
Portion of consideration paid (received) consisting of cash and cash equivalents | (2,100,000,000) | |||||||||||||||||||||||||
Identifiable assets acquired (liabilities assumed) | 1,500,000,000 | |||||||||||||||||||||||||
Additional recognition, goodwill | 600,000,000 | |||||||||||||||||||||||||
Cash offer per ordinary share | 24 | |||||||||||||||||||||||||
Other net assets | 300,000,000 | |||||||||||||||||||||||||
Deferred tax liability (asset) | 300,000,000 | |||||||||||||||||||||||||
Intangible assets other than goodwill | $ 1,500,000,000 | |||||||||||||||||||||||||
GSK Consumer Healthcare | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Divested interest in associate | 36.50% | |||||||||||||||||||||||||
Proceeds from disposal of non-current assets or disposal groups classified as held for sale and discontinued operations | $ 12,994,000,000 | |||||||||||||||||||||||||
Pre tax profit (loss) from divestment of business | $ 5,800,000,000 | |||||||||||||||||||||||||
Takeda Pharmaceutical Company Limited | Innovative Medicines | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Consideration transferred, acquisition-date fair value | $ 3,700,000,000 | |||||||||||||||||||||||||
Portion of consideration paid (received) consisting of cash and cash equivalents | (3,500,000,000) | |||||||||||||||||||||||||
Portion of consideration paid consisting of cash and cash equivalents upfront payment | (3,400,000,000) | |||||||||||||||||||||||||
Contingent liabilities recognised as of acquisition date | 200,000,000 | |||||||||||||||||||||||||
Identifiable assets acquired (liabilities assumed) | 3,600,000,000 | |||||||||||||||||||||||||
Additional recognition, goodwill | 100,000,000 | |||||||||||||||||||||||||
Revenue of acquiree since acquisition date | 200,000,000 | |||||||||||||||||||||||||
Revenue of acquiree full year | 300,000,000 | |||||||||||||||||||||||||
Intangible assets other than goodwill | 3,600,000,000 | |||||||||||||||||||||||||
Potential milestone maximum payments | 1,900,000,000 | |||||||||||||||||||||||||
Customary purchase price adjustment | $ 100,000,000 | |||||||||||||||||||||||||
IFM Tre, Inc. | Innovative Medicines | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Consideration transferred, acquisition-date fair value | $ 361,000,000 | |||||||||||||||||||||||||
Portion of consideration paid (received) consisting of cash and cash equivalents | (285,000,000) | |||||||||||||||||||||||||
Contingent liabilities recognised as of acquisition date | 76,000,000 | |||||||||||||||||||||||||
Identifiable assets acquired (liabilities assumed) | 355,000,000 | |||||||||||||||||||||||||
Additional recognition, goodwill | $ 39,000,000 | |||||||||||||||||||||||||
Divested interest in associate | 9.00% | |||||||||||||||||||||||||
Acquisition-date fair value of equity interest in acquiree held by acquirer immediately before acquisition date | $ 33,000,000 | |||||||||||||||||||||||||
Gain (loss) recognised as result of remeasuring to fair value equity interest in acquiree held by acquirer before business combination | $ 14,000,000 | |||||||||||||||||||||||||
Percentage of voting equity interests acquired | 91.00% | |||||||||||||||||||||||||
Continuing operations | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Identifiable assets acquired (liabilities assumed) | 13,660,000,000 | |||||||||||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Profit (loss) from discontinued operations | 4,590,000,000 | (186,000,000) | ||||||||||||||||||||||||
Deferred tax liability (asset) | (858,000,000) | |||||||||||||||||||||||||
Intangible assets other than goodwill | $ 11,121,000,000 | |||||||||||||||||||||||||
Revenue from sale of goods | 1,809,000,000 | $ 7,153,000,000 | ||||||||||||||||||||||||
Dividend in kind distribution liability | 23,434,000,000 | |||||||||||||||||||||||||
Difference between carrying amount of dividends payable and carrying amount of non-cash assets distributed | 3,409,000,000 | |||||||||||||||||||||||||
Difference between carrying amount of dividends payable and carrying amount of non-cash assets distributed, Net | $ 4,691,000,000 | |||||||||||||||||||||||||
Discontinued operations | Alcon [member] | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Repayment of intercompany balances | $ (3,100,000,000) | |||||||||||||||||||||||||
Other borrowings | $ 3,200,000,000 | |||||||||||||||||||||||||
Dividend in kind distribution liability | $ 26,400,000,000 | |||||||||||||||||||||||||
Borrowings | 3,500,000,000 | |||||||||||||||||||||||||
Net assets liabilities | 23,100,000,000 | |||||||||||||||||||||||||
Financial assets, at fair value | $ 1,300,000,000 | |||||||||||||||||||||||||
Additional borrowings | 300,000,000 | |||||||||||||||||||||||||
Discontinued operations | Alcon [member] | Borrowings, USD [member] | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Other borrowings | 2,800,000,000 | |||||||||||||||||||||||||
Discontinued operations | Alcon [member] | Borrowings, EUR [member] | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Other borrowings | $ 400,000,000 | |||||||||||||||||||||||||
Discontinued operations | PowerVision, Inc. | Alcon [member] | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Consideration transferred, acquisition-date fair value | 424,000,000 | |||||||||||||||||||||||||
Portion of consideration paid (received) consisting of cash and cash equivalents | (289,000,000) | |||||||||||||||||||||||||
Contingent liabilities recognised as of acquisition date | 135,000,000 | |||||||||||||||||||||||||
Identifiable assets acquired (liabilities assumed) | 418,000,000 | |||||||||||||||||||||||||
Additional recognition, goodwill | 6,000,000 | |||||||||||||||||||||||||
Other net assets | 6,000,000 | |||||||||||||||||||||||||
Deferred tax liability (asset) | 93,000,000 | |||||||||||||||||||||||||
Intangible assets other than goodwill | $ 505,000,000 | |||||||||||||||||||||||||
Subsidiaries [member] | The Medicines Company | ||||||||||||||||||||||||||
Disclosure of detailed information about business combination [line items] | ||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% |
Significant transactions (Det_2
Significant transactions (Details 2) - USD ($) $ in Millions | Apr. 08, 2019 | Dec. 31, 2019 | Mar. 31, 2019 |
Disclosure of detailed information about business combination [line items] | |||
Gain on distribution of Alcon Inc. to Novartis AG shareholders | $ 4,691 | $ 4,691 | |
Discontinued operations | |||
Disclosure of detailed information about business combination [line items] | |||
Net assets derecognized | (20,025) | ||
Derecognition of distribution liability | 23,434 | ||
Difference between net assets and distribution liability | 3,409 | ||
Distribution of dividend to dividend bearing shares | 1,273 | ||
Cumulative currency translation gains/losses recycled through income statement | 123 | ||
Transaction costs recognized in the consolidated income statement | $ (114) | ||
Gain on distribution of Alcon Inc. to Novartis AG shareholders | $ 4,691 | ||
Alcon | Discontinued operations | |||
Disclosure of detailed information about business combination [line items] | |||
Derecognition of distribution liability | $ 26,400 |
Significant transactions (Det_3
Significant transactions (Details 3) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Assets of disposal group classified as held for sale [abstract] | ||
Property, plant and equipment | $ 12,263 | $ 12,069 |
Intangible assets other than goodwill | 36,809 | 28,787 |
Deferred tax assets | 8,214 | 7,909 |
Other non-current assets | 892 | 738 |
Inventories | 7,131 | 5,982 |
Other current assets | 2,523 | 2,680 |
Assets of disposal group held for sale | 841 | |
Liabilities of disposal group classified as held for sale [abstract] | ||
Deferred tax liabilities | 7,422 | 5,867 |
Provisions and other non-current liabilities | 6,934 | 6,632 |
Provisions and other current liabilities | $ 15,127 | 13,338 |
Liabilities of disposal group held for sale | 31 | |
Assets and liabilities classified as held for sale [member] | ||
Assets of disposal group classified as held for sale [abstract] | ||
Property, plant and equipment | 169 | |
Intangible assets other than goodwill | 475 | |
Deferred tax assets | 11 | |
Other non-current assets | 2 | |
Inventories | 181 | |
Other current assets | 3 | |
Assets of disposal group held for sale | 841 | |
Liabilities of disposal group classified as held for sale [abstract] | ||
Deferred tax liabilities | 2 | |
Provisions and other non-current liabilities | 4 | |
Provisions and other current liabilities | 25 | |
Liabilities of disposal group held for sale | $ 31 |
Segmentation of key figures (De
Segmentation of key figures (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |
Number of Reportable Segments | 2 |
Innovative Medicines | |
Disclosure of operating segments [line items] | |
Number of Business Units | 2 |
Sandoz | |
Disclosure of operating segments [line items] | |
Number of Franchises | 3 |
Segmentation of key figures (_2
Segmentation of key figures (Details 1) - USD ($) $ in Millions | Apr. 08, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of operating segments [line items] | ||||
Net sales to third parties from continuing operations | $ 48,659 | $ 47,445 | $ 44,751 | |
Sales to continuing and discontinued segments | 53 | 82 | ||
Net sales from continuing operations | 48,659 | 47,498 | 44,833 | |
Other revenues | 1,239 | 1,179 | 1,266 | |
Cost of goods sold | (15,121) | (14,425) | (14,510) | |
Gross profit from continuing operations | 34,777 | 34,252 | 31,589 | |
Selling, general and administration | (14,197) | (14,369) | (13,717) | |
Research and development | (8,980) | (9,402) | (8,489) | |
Other income | 1,742 | 2,031 | 1,629 | |
Other expense | (3,190) | (3,426) | (2,609) | |
Operating income from continuing operations | 10,152 | 9,086 | 8,403 | |
Income from associated companies | 673 | 659 | 6,438 | |
Interest expense | (869) | (850) | (932) | |
Other financial income and expense | (78) | 45 | 186 | |
Income before taxes from continuing operations | 9,878 | 8,940 | 14,095 | |
Taxes | (1,807) | (1,793) | (1,295) | |
Net income from continuing operations | 8,071 | 7,147 | 12,800 | |
Net income/loss from discontinued operations before gain on distribution | (101) | (186) | ||
Gain on distribution of Alcon Inc. to Novartis AG shareholders | $ 4,691 | 4,691 | ||
Net income/loss from discontinued operations | 4,590 | (186) | ||
Net income | 8,071 | 11,737 | 12,614 | |
Operating segments [member] | Innovative Medicines | ||||
Disclosure of operating segments [line items] | ||||
Net sales to third parties from continuing operations | 39,013 | 37,714 | 34,892 | |
Sales to continuing and discontinued segments | 792 | 783 | 741 | |
Net sales from continuing operations | 39,805 | 38,497 | 35,633 | |
Other revenues | 1,018 | 1,092 | 1,188 | |
Cost of goods sold | (10,927) | (10,050) | (9,870) | |
Gross profit from continuing operations | 29,896 | 29,539 | 26,951 | |
Selling, general and administration | (11,657) | (11,617) | (10,907) | |
Research and development | (8,118) | (8,152) | (7,675) | |
Other income | 922 | 1,586 | 977 | |
Other expense | (1,871) | (2,069) | (1,475) | |
Operating income from continuing operations | 9,172 | 9,287 | 7,871 | |
Income from associated companies | 1 | 1 | 1 | |
Operating segments [member] | Sandoz | ||||
Disclosure of operating segments [line items] | ||||
Net sales to third parties from continuing operations | 9,646 | 9,731 | 9,859 | |
Sales to continuing and discontinued segments | 189 | 141 | 177 | |
Net sales from continuing operations | 9,835 | 9,872 | 10,036 | |
Other revenues | 53 | 63 | 62 | |
Cost of goods sold | (5,252) | (5,334) | (5,530) | |
Gross profit from continuing operations | 4,636 | 4,601 | 4,568 | |
Selling, general and administration | (2,076) | (2,218) | (2,305) | |
Research and development | (862) | (1,250) | (814) | |
Other income | 176 | 167 | 505 | |
Other expense | (831) | (749) | (622) | |
Operating income from continuing operations | 1,043 | 551 | 1,332 | |
Income from associated companies | 2 | 2 | 5 | |
Operating segments [member] | Corporate | ||||
Disclosure of operating segments [line items] | ||||
Sales to continuing and discontinued segments | (981) | (871) | (836) | |
Net sales from continuing operations | (981) | (871) | (836) | |
Other revenues | 168 | 24 | 16 | |
Cost of goods sold | 1,058 | 959 | 890 | |
Gross profit from continuing operations | 245 | 112 | 70 | |
Selling, general and administration | (464) | (534) | (505) | |
Other income | 644 | 278 | 147 | |
Other expense | (488) | (608) | (512) | |
Operating income from continuing operations | (63) | (752) | (800) | |
Income from associated companies | $ 670 | $ 656 | $ 6,432 |
Segmentation of key figures (_3
Segmentation of key figures (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Interest income | $ 91 | $ 245 | $ 292 |
Impairment charges and fair value gains on financial assets, net | 335 | 38 | (6) |
Additions to restructuring provisions | (354) | (492) | (521) |
Continuing operations | |||
Disclosure of operating segments [line items] | |||
Equity-based compensation of Novartis equity plans | (958) | (1,067) | (918) |
Property, plant and equipment [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (1,318) | (1,345) | (1,482) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (440) | (202) | (301) |
Right-of-use assets [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (330) | (305) | |
Intangible assets and goodwill [member] | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (3,462) | (2,836) | (2,587) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (914) | (1,138) | (841) |
Operating segments [member] | Innovative Medicines | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Impairment charges and fair value gains on financial assets, net | 153 | 18 | 107 |
Additions to restructuring provisions | (217) | (229) | (395) |
Equity-based compensation of Novartis equity plans | (714) | (761) | (645) |
Operating segments [member] | Innovative Medicines | Property, plant and equipment [member] | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (912) | (952) | (1,075) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (324) | (100) | (239) |
Operating segments [member] | Innovative Medicines | Right-of-use assets [member] | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (273) | (247) | |
Operating segments [member] | Innovative Medicines | Intangible assets and goodwill [member] | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (3,080) | (2,509) | (2,214) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (768) | (632) | (592) |
Operating segments [member] | Sandoz | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Additions to restructuring provisions | (98) | (165) | (32) |
Equity-based compensation of Novartis equity plans | (64) | (67) | (53) |
Operating segments [member] | Sandoz | Property, plant and equipment [member] | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (282) | (283) | (285) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (116) | (101) | (60) |
Operating segments [member] | Sandoz | Right-of-use assets [member] | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (41) | (41) | |
Operating segments [member] | Sandoz | Intangible assets and goodwill [member] | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (370) | (315) | (366) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (141) | (506) | (249) |
Operating segments [member] | Corporate | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Impairment charges and fair value gains on financial assets, net | 182 | 20 | (113) |
Additions to restructuring provisions | (39) | (98) | (94) |
Equity-based compensation of Novartis equity plans | (180) | (239) | (220) |
Operating segments [member] | Corporate | Property, plant and equipment [member] | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (124) | (110) | (122) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (1) | (2) | |
Operating segments [member] | Corporate | Right-of-use assets [member] | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (16) | (17) | |
Operating segments [member] | Corporate | Intangible assets and goodwill [member] | Continuing operations | |||
Disclosure of operating segments [line items] | |||
Depreciation and amortisation expense | (12) | $ (12) | $ (7) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | $ (5) |
Segmentation of key figures (_4
Segmentation of key figures (Details 3) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of operating segments [line items] | |||||
Total assets | $ 132,059 | $ 118,370 | |||
Total liabilities | (75,393) | (62,819) | |||
Total equity | 56,666 | 55,551 | $ 78,692 | ||
Net debt | 24,481 | 15,938 | |||
Net operating assets | 81,147 | 71,489 | |||
Property, plant and equipment | 12,263 | 12,069 | |||
Additions to property, plant and equipment | 1,265 | 1,474 | |||
Right-of-use assets | 1,676 | 1,677 | $ 1,554 | ||
Additions to right-of-use assets | 346 | 537 | |||
Intangible assets and goodwill | 66,808 | 55,311 | |||
Additions to intangible assets and goodwill | 1,425 | 767 | |||
Investments in associated companies | 9,632 | 8,644 | |||
Additions to investment in associated companies | 31 | 55 | |||
Cash and cash equivalents, marketable securities, commodities, time deposits and derivative financial instruments | 11,563 | 11,446 | |||
Financial debts and derivative instruments | 36,044 | 27,384 | $ 28,532 | ||
Current income tax and deferred tax liabilities | 9,880 | 8,061 | |||
Operating segments [member] | Innovative Medicines | |||||
Disclosure of operating segments [line items] | |||||
Total assets | 83,112 | 71,225 | |||
Total liabilities | (15,472) | (15,332) | |||
Net operating assets | 67,640 | 55,893 | |||
Property, plant and equipment | 9,863 | 9,632 | |||
Additions to property, plant and equipment | 926 | 1,114 | |||
Right-of-use assets | 1,489 | 1,487 | |||
Additions to right-of-use assets | 264 | 454 | |||
Intangible assets and goodwill | 56,839 | 46,336 | |||
Additions to intangible assets and goodwill | 1,235 | 647 | |||
Investments in associated companies | 194 | 128 | |||
Additions to investment in associated companies | 24 | 44 | |||
Operating segments [member] | Sandoz | |||||
Disclosure of operating segments [line items] | |||||
Total assets | 16,825 | 16,468 | |||
Total liabilities | (3,786) | (3,804) | |||
Net operating assets | 13,039 | 12,664 | |||
Property, plant and equipment | 1,849 | 1,888 | |||
Additions to property, plant and equipment | 229 | 217 | |||
Right-of-use assets | 133 | 136 | |||
Additions to right-of-use assets | 67 | 49 | |||
Intangible assets and goodwill | 9,817 | 8,892 | |||
Additions to intangible assets and goodwill | 105 | 68 | |||
Investments in associated companies | 8 | 7 | |||
Operating segments [member] | Corporate | |||||
Disclosure of operating segments [line items] | |||||
Total assets | 32,122 | 30,677 | |||
Total liabilities | (56,135) | (43,683) | |||
Net debt | 24,481 | 15,938 | |||
Net operating assets | 468 | 2,932 | |||
Property, plant and equipment | 551 | 549 | |||
Additions to property, plant and equipment | 110 | 143 | |||
Right-of-use assets | 54 | 54 | |||
Additions to right-of-use assets | 15 | 34 | |||
Intangible assets and goodwill | 152 | 83 | |||
Additions to intangible assets and goodwill | 85 | 52 | |||
Investments in associated companies | 9,430 | 8,509 | |||
Additions to investment in associated companies | 7 | 11 | |||
Cash and cash equivalents, marketable securities, commodities, time deposits and derivative financial instruments | 11,563 | 11,446 | |||
Financial debts and derivative instruments | 36,044 | 27,384 | |||
Current income tax and deferred tax liabilities | $ 9,880 | $ 8,061 |
Segmentation of key figures (_5
Segmentation of key figures (Details 4) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 48,659 | $ 47,445 | $ 44,751 |
Net sales (in % of total net sales) | 100.00% | 100.00% | 100.00% |
Total of selected non-current assets | $ 90,379 | $ 77,701 | |
Selected non-current assets (in % of total selected non-current assets) | 100.00% | 100.00% | |
Switzerland | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 800 | $ 848 | $ 795 |
Net sales (in % of total net sales) | 2.00% | 2.00% | 2.00% |
Total of selected non-current assets | $ 34,904 | $ 33,032 | |
Selected non-current assets (in % of total selected non-current assets) | 39.00% | 43.00% | |
US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 16,484 | $ 16,280 | $ 14,618 |
Net sales (in % of total net sales) | 34.00% | 34.00% | 33.00% |
Total of selected non-current assets | $ 39,889 | $ 28,893 | |
Selected non-current assets (in % of total selected non-current assets) | 44.00% | 37.00% | |
France | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 2,442 | $ 2,442 | $ 2,505 |
Net sales (in % of total net sales) | 5.00% | 5.00% | 6.00% |
Total of selected non-current assets | $ 4,115 | $ 3,933 | |
Selected non-current assets (in % of total selected non-current assets) | 5.00% | 5.00% | |
Germany | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 4,518 | $ 4,120 | $ 3,972 |
Net sales (in % of total net sales) | 9.00% | 9.00% | 9.00% |
Total of selected non-current assets | $ 2,607 | $ 2,554 | |
Selected non-current assets (in % of total selected non-current assets) | 3.00% | 3.00% | |
Japan | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 2,804 | $ 2,656 | $ 2,575 |
Net sales (in % of total net sales) | 6.00% | 6.00% | 6.00% |
Total of selected non-current assets | $ 313 | $ 309 | |
China | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 2,573 | $ 2,214 | $ 1,953 |
Net sales (in % of total net sales) | 5.00% | 5.00% | 4.00% |
Total of selected non-current assets | $ 714 | $ 684 | |
Selected non-current assets (in % of total selected non-current assets) | 1.00% | 1.00% | |
Other | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 19,038 | $ 18,885 | $ 18,333 |
Net sales (in % of total net sales) | 39.00% | 39.00% | 40.00% |
Total of selected non-current assets | $ 7,837 | $ 8,296 | |
Selected non-current assets (in % of total selected non-current assets) | 8.00% | 11.00% |
Segmentation of key figures (_6
Segmentation of key figures (Details 5) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 48,659 | $ 47,445 | $ 44,751 |
Net sales (in % of total net sales) | 100.00% | 100.00% | 100.00% |
Total of selected non-current assets | $ 90,379 | $ 77,701 | |
Selected non-current assets (in % of total selected non-current assets) | 100.00% | 100.00% | |
Europe [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 18,715 | $ 17,933 | $ 17,259 |
Net sales (in % of total net sales) | 38.00% | 38.00% | 39.00% |
Total of selected non-current assets | $ 47,798 | $ 46,103 | |
Selected non-current assets (in % of total selected non-current assets) | 53.00% | 59.00% | |
Americas [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 19,725 | $ 19,713 | $ 18,032 |
Net sales (in % of total net sales) | 41.00% | 41.00% | 39.00% |
Total of selected non-current assets | $ 40,391 | $ 29,389 | |
Selected non-current assets (in % of total selected non-current assets) | 45.00% | 38.00% | |
Asia/Africa/Australasia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 10,219 | $ 9,799 | $ 9,460 |
Net sales (in % of total net sales) | 21.00% | 21.00% | 22.00% |
Total of selected non-current assets | $ 2,190 | $ 2,209 | |
Selected non-current assets (in % of total selected non-current assets) | 2.00% | 3.00% |
Segmentation of key figures (_7
Segmentation of key figures (Details 6) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of major customers [line items] | |||
Customers with net sales over five percent | The Group’s largest, second-largest and third-largest customers account for approximately 17%, 11% and 6% of net sales, respectively (2019: 18%, 13% and 8%, respectively; 2018: 18%, 14% and 8%, respectively). All segments had sales to these customers in 2020, 2019 and 2018. The highest amounts of trade receivables outstanding were for these same three customers and amounted to approximately 14%, 12% and 6%, respectively, of the trade receivables at December 31, 2020 (2019: 14%, 12% and 7%, respectively). | ||
Largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 17.00% | 18.00% | 18.00% |
Percentage of entitys trade receivable | 14.00% | 14.00% | |
Second largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 11.00% | 13.00% | 14.00% |
Percentage of entitys trade receivable | 12.00% | 12.00% | |
Third largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 6.00% | 8.00% | 8.00% |
Percentage of entitys trade receivable | 6.00% | 7.00% |
Segmentation of key figures - N
Segmentation of key figures - Net sales by region (Details 7) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 48,659 | $ 47,445 | $ 44,751 |
Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 3.00% | 6.00% | |
Europe [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 18,715 | $ 17,933 | 17,259 |
Europe [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 4.00% | 4.00% | |
US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 16,484 | $ 16,280 | 14,618 |
US | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 1.00% | 11.00% | |
Asia/Africa/Australasia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 10,219 | $ 9,799 | 9,460 |
Asia/Africa/Australasia [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 4.00% | 4.00% | |
Canada and Latin America [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 3,241 | $ 3,433 | 3,414 |
Canada and Latin America [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (6.00%) | 1.00% | |
Established Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 36,732 | $ 35,684 | 33,491 |
Established Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 3.00% | 7.00% | |
Emerging Growth Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 11,927 | $ 11,761 | 11,260 |
Emerging Growth Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 1.00% | 4.00% | |
Innovative Medicines | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 3.00% | 8.00% | |
Innovative Medicines | Europe [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 13,484 | $ 12,818 | 12,296 |
Innovative Medicines | Europe [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 5.00% | 4.00% | |
Innovative Medicines | US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 14,342 | $ 13,789 | 11,864 |
Innovative Medicines | US | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 4.00% | 16.00% | |
Innovative Medicines | Asia/Africa/Australasia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 8,718 | $ 8,458 | 8,097 |
Innovative Medicines | Asia/Africa/Australasia [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 3.00% | 4.00% | |
Innovative Medicines | Canada and Latin America [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 2,469 | $ 2,649 | 2,635 |
Innovative Medicines | Canada and Latin America [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (7.00%) | 1.00% | |
Innovative Medicines | Established Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 29,643 | $ 28,573 | 26,258 |
Innovative Medicines | Established Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 4.00% | 9.00% | |
Innovative Medicines | Emerging Growth Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 9,370 | $ 9,141 | 8,634 |
Innovative Medicines | Emerging Growth Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 3.00% | 6.00% | |
Sandoz | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (1.00%) | (1.00%) | |
Sandoz | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (1.00%) | (1.00%) | |
Sandoz | Europe [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 5,231 | $ 5,115 | 4,963 |
Sandoz | Europe [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 2.00% | 3.00% | |
Sandoz | US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 2,142 | $ 2,491 | 2,754 |
Sandoz | US | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (14.00%) | (10.00%) | |
Sandoz | Asia/Africa/Australasia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,501 | $ 1,341 | 1,363 |
Sandoz | Asia/Africa/Australasia [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 12.00% | (2.00%) | |
Sandoz | Canada and Latin America [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 772 | $ 784 | 779 |
Sandoz | Canada and Latin America [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (2.00%) | 1.00% | |
Sandoz | Established Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 7,089 | $ 7,111 | 7,233 |
Sandoz | Established Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 0.00% | (2.00%) | |
Sandoz | Emerging Growth Markets [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 2,557 | $ 2,620 | 2,626 |
Sandoz | Emerging Growth Markets [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (2.00%) | 0.00% | |
Operating segments [member] | Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 39,013 | $ 37,714 | 34,892 |
Net sales, change in % | 3.00% | 8.00% | |
Operating segments [member] | Sandoz | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 9,646 | $ 9,731 | $ 9,859 |
Segmentation of key figures (_8
Segmentation of key figures (Details 8) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 48,659 | $ 47,445 | $ 44,751 |
Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 3.00% | 6.00% | |
Innovative Medicines | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 3.00% | 8.00% | |
Operating segments [member] | Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 39,013 | $ 37,714 | 34,892 |
Net sales, change in % | 3.00% | 8.00% | |
Operating segments [member] | Innovative Medicines | Oncology [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 14,711 | $ 14,370 | 13,428 |
Net sales, change in % | 2.00% | 7.00% | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Tasigna [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,958 | $ 1,880 | 1,874 |
Net sales, change in % | 4.00% | 0.00% | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Promacta/Revolade [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,738 | $ 1,416 | 1,174 |
Net sales, change in % | 23.00% | 21.00% | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Tafinlar + Mekinist [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,542 | $ 1,338 | 1,155 |
Net sales, change in % | 15.00% | 16.00% | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Sandostatin [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,439 | $ 1,585 | 1,587 |
Net sales, change in % | (9.00%) | 0.00% | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Jakavi [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,339 | $ 1,114 | 977 |
Net sales, change in % | 20.00% | 14.00% | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Gleevec/Glivec [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,188 | $ 1,263 | 1,561 |
Net sales, change in % | (6.00%) | (19.00%) | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Afinitor/Votubia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,083 | $ 1,539 | 1,556 |
Net sales, change in % | (30.00%) | (1.00%) | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Kisqali [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 687 | $ 480 | 235 |
Net sales, change in % | 43.00% | 104.00% | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Exjade/Jadenu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 653 | $ 975 | 1,099 |
Net sales, change in % | (33.00%) | (11.00%) | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Votrient [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 635 | $ 755 | 828 |
Net sales, change in % | (16.00%) | (9.00%) | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Kymriah [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 474 | $ 278 | 76 |
Net sales, change in % | 71.00% | ||
Operating segments [member] | Innovative Medicines | Oncology [member] | Lutathera [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 445 | $ 441 | 167 |
Net sales, change in % | 1.00% | 164.00% | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Piqray [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 320 | $ 116 | |
Net sales, change in % | 176.00% | ||
Operating segments [member] | Innovative Medicines | Oncology [member] | Adakveo [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 105 | 1 | |
Operating segments [member] | Innovative Medicines | Oncology [member] | Tabrecta [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 35 | ||
Operating segments [member] | Innovative Medicines | Oncology [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,070 | $ 1,189 | 1,139 |
Net sales, change in % | (10.00%) | 4.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 24,302 | $ 23,344 | 21,464 |
Net sales, change in % | 4.00% | 9.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 4,868 | $ 4,222 | 3,392 |
Net sales, change in % | 15.00% | 24.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Cosentyx [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 3,995 | $ 3,551 | 2,837 |
Net sales, change in % | 13.00% | 25.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Ilaris [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 873 | $ 671 | 554 |
Net sales, change in % | 30.00% | 21.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1 | ||
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Ophthalmology [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 4,410 | $ 4,776 | 4,558 |
Net sales, change in % | (8.00%) | 5.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Ophthalmology [member] | Lucentis [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,933 | $ 2,086 | 2,046 |
Net sales, change in % | (7.00%) | 2.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Ophthalmology [member] | Xiidra [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 376 | $ 192 | |
Net sales, change in % | 96.00% | ||
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Ophthalmology [member] | Beovu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 190 | 35 | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Ophthalmology [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,911 | $ 2,463 | 1,995 |
Net sales, change in % | (22.00%) | 23.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 4,323 | $ 3,773 | 3,429 |
Net sales, change in % | 15.00% | 10.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | Gilenya [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 3,003 | $ 3,223 | 3,341 |
Net sales, change in % | (7.00%) | (4.00%) | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | Zolgensma [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 920 | $ 361 | |
Net sales, change in % | 155.00% | ||
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | Mayzent [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 170 | 26 | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | Aimovig [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 164 | 103 | 8 |
Net sales, change in % | 59.00% | ||
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | Kesimpta [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 15 | ||
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 51 | $ 60 | 80 |
Net sales, change in % | (15.00%) | (25.00%) | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Cardiovascular, Renal and Metabolism [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 2,498 | $ 1,750 | 1,050 |
Net sales, change in % | 43.00% | 67.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Cardiovascular, Renal and Metabolism [member] | Entresto [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 2,497 | $ 1,726 | 1,028 |
Net sales, change in % | 45.00% | 68.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Cardiovascular, Renal and Metabolism [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1 | $ 24 | 22 |
Net sales, change in % | (96.00%) | 9.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Respiratory [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,900 | $ 1,825 | 1,767 |
Net sales, change in % | 4.00% | 3.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Respiratory [member] | Xolair [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,251 | $ 1,173 | 1,039 |
Net sales, change in % | 7.00% | 13.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Respiratory [member] | Ultibro Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 623 | $ 630 | 703 |
Net sales, change in % | (1.00%) | (10.00%) | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Respiratory [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 26 | $ 22 | 25 |
Net sales, change in % | 18.00% | (12.00%) | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 6,303 | $ 6,998 | 7,268 |
Net sales, change in % | (10.00%) | (4.00%) | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Galvus Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,199 | $ 1,297 | 1,284 |
Net sales, change in % | (8.00%) | 1.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Diovan Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,003 | $ 1,064 | 1,023 |
Net sales, change in % | (6.00%) | 4.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Exforge Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 980 | $ 1,025 | 1,002 |
Net sales, change in % | (4.00%) | 2.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Zortress/Certican [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 452 | $ 485 | 464 |
Net sales, change in % | (7.00%) | 5.00% | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Neoral/Sandimmun(e) [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 393 | $ 419 | 463 |
Net sales, change in % | (6.00%) | (10.00%) | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Voltaren/Cataflam [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 360 | $ 417 | 445 |
Net sales, change in % | (14.00%) | (6.00%) | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Other [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,916 | $ 2,291 | $ 2,587 |
Net sales, change in % | (16.00%) | (11.00%) |
Segmentation of key figures - T
Segmentation of key figures - Top 20 (Details 9) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 48,659 | $ 47,445 | $ 44,751 |
US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 16,484 | 16,280 | 14,618 |
Innovative Medicines | Top 20 products [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 29,916 | 28,646 | 26,946 |
Innovative Medicines | Rest of portfolio [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 9,097 | 9,068 | 7,946 |
Innovative Medicines | Oncology [member] | Top 20 products [member] | Tasigna [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,958 | 1,880 | 1,587 |
Innovative Medicines | Oncology [member] | Top 20 products [member] | Sandostatin [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,439 | 1,726 | 1,561 |
Innovative Medicines | Oncology [member] | Top 20 products [member] | Afinitor/Votubia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,083 | 1,539 | 1,556 |
Innovative Medicines | Oncology [member] | Top 20 products [member] | Promacta/Revolade [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,738 | 1,338 | 1,023 |
Innovative Medicines | Oncology [member] | Top 20 products [member] | Tafinlar + Mekinist [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,542 | 1,297 | 1,028 |
Innovative Medicines | Oncology [member] | Top 20 products [member] | Gleevec/Glivec [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,188 | 1,585 | 2,046 |
Innovative Medicines | Oncology [member] | Top 20 products [member] | Jakavi [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,339 | 975 | 977 |
Innovative Medicines | Oncology [member] | Top 20 products [member] | Exjade/Jadenu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 653 | 1,263 | 1,174 |
Innovative Medicines | Oncology [member] | Top 20 products [member] | Votrient [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 635 | 755 | 1,002 |
Innovative Medicines | Pharmaceutical [member] | Top 20 products [member] | Lucentis [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,933 | ||
Innovative Medicines | Pharmaceutical [member] | Ophthalmology [member] | Top 20 products [member] | Lucentis [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 2,086 | 1,874 | |
Innovative Medicines | Pharmaceutical [member] | Ophthalmology [member] | Top 20 products [member] | Travoprost Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 485 | 828 | |
Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | Top 20 products [member] | Gilenya [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 3,003 | 3,551 | 3,341 |
Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | Top 20 products [member] | Zolgensma [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 920 | ||
Innovative Medicines | Pharmaceutical [member] | Respiratory [member] | Top 20 products [member] | Xolair [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,251 | 1,173 | 1,039 |
Innovative Medicines | Pharmaceutical [member] | Cardiovascular, Renal and Metabolism [member] | Top 20 products [member] | Entresto [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 2,497 | 1,114 | 554 |
Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Galvus Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,199 | 1,416 | 1,284 |
Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Diovan Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,003 | 1,064 | 1,099 |
Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Exforge Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 980 | 1,025 | 1,155 |
Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Zortress/Certican [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 480 | ||
Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Kisqali [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 687 | ||
Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Voltaren/Cataflam [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 464 | ||
Innovative Medicines | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Top 20 products [member] | Cosentyx [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 3,995 | 3,223 | 2,837 |
Innovative Medicines | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Top 20 products [member] | Ilaris [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 873 | 671 | |
Innovative Medicines | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Top 20 products [member] | Neoral/Sandimmun(e) [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 517 | ||
Innovative Medicines | US | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 14,342 | 13,789 | 11,864 |
Innovative Medicines | US | Top 20 products [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 11,126 | 10,679 | 9,654 |
Innovative Medicines | US | Rest of portfolio [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 3,216 | 3,110 | 2,210 |
Innovative Medicines | US | Oncology [member] | Top 20 products [member] | Tasigna [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 859 | 804 | 817 |
Innovative Medicines | US | Oncology [member] | Top 20 products [member] | Sandostatin [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 837 | 925 | 440 |
Innovative Medicines | US | Oncology [member] | Top 20 products [member] | Afinitor/Votubia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 644 | 1,003 | 929 |
Innovative Medicines | US | Oncology [member] | Top 20 products [member] | Promacta/Revolade [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 833 | 481 | 84 |
Innovative Medicines | US | Oncology [member] | Top 20 products [member] | Tafinlar + Mekinist [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 569 | 556 | |
Innovative Medicines | US | Oncology [member] | Top 20 products [member] | Gleevec/Glivec [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 315 | 881 | |
Innovative Medicines | US | Oncology [member] | Top 20 products [member] | Jakavi [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 450 | ||
Innovative Medicines | US | Oncology [member] | Top 20 products [member] | Exjade/Jadenu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 138 | 334 | 581 |
Innovative Medicines | US | Oncology [member] | Top 20 products [member] | Votrient [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 259 | 332 | 19 |
Innovative Medicines | US | Pharmaceutical [member] | Ophthalmology [member] | Top 20 products [member] | Lucentis [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 806 | ||
Innovative Medicines | US | Pharmaceutical [member] | Ophthalmology [member] | Top 20 products [member] | Travoprost Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 169 | 404 | |
Innovative Medicines | US | Pharmaceutical [member] | Neuroscience [member] | Top 20 products [member] | Gilenya [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,562 | 2,220 | 1,765 |
Innovative Medicines | US | Pharmaceutical [member] | Neuroscience [member] | Top 20 products [member] | Zolgensma [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 459 | ||
Innovative Medicines | US | Pharmaceutical [member] | Cardiovascular, Renal and Metabolism [member] | Top 20 products [member] | Entresto [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,277 | 262 | |
Innovative Medicines | US | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Galvus Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 691 | ||
Innovative Medicines | US | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Diovan Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 124 | 86 | 521 |
Innovative Medicines | US | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Exforge Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 16 | 13 | 457 |
Innovative Medicines | US | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Zortress/Certican [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 250 | ||
Innovative Medicines | US | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Kisqali [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 318 | ||
Innovative Medicines | US | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Voltaren/Cataflam [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 145 | ||
Innovative Medicines | US | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Top 20 products [member] | Cosentyx [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 2,516 | 1,736 | 1,674 |
Innovative Medicines | US | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Top 20 products [member] | Ilaris [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 400 | 304 | |
Innovative Medicines | US | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Top 20 products [member] | Neoral/Sandimmun(e) [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 194 | ||
Innovative Medicines | Rest of the world [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 24,671 | 23,925 | 23,028 |
Innovative Medicines | Rest of the world [member] | Top 20 products [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 18,790 | 17,967 | 17,292 |
Innovative Medicines | Rest of the world [member] | Rest of portfolio [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 5,881 | 5,958 | 5,736 |
Innovative Medicines | Rest of the world [member] | Oncology [member] | Top 20 products [member] | Tasigna [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,099 | 1,076 | 770 |
Innovative Medicines | Rest of the world [member] | Oncology [member] | Top 20 products [member] | Sandostatin [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 602 | 801 | 1,121 |
Innovative Medicines | Rest of the world [member] | Oncology [member] | Top 20 products [member] | Afinitor/Votubia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 439 | 536 | 627 |
Innovative Medicines | Rest of the world [member] | Oncology [member] | Top 20 products [member] | Promacta/Revolade [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 905 | 857 | 939 |
Innovative Medicines | Rest of the world [member] | Oncology [member] | Top 20 products [member] | Tafinlar + Mekinist [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 973 | 1,297 | 472 |
Innovative Medicines | Rest of the world [member] | Oncology [member] | Top 20 products [member] | Gleevec/Glivec [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 873 | 704 | 2,046 |
Innovative Medicines | Rest of the world [member] | Oncology [member] | Top 20 products [member] | Jakavi [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,339 | 525 | 977 |
Innovative Medicines | Rest of the world [member] | Oncology [member] | Top 20 products [member] | Exjade/Jadenu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 515 | 929 | 593 |
Innovative Medicines | Rest of the world [member] | Oncology [member] | Top 20 products [member] | Votrient [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 376 | 423 | 983 |
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Top 20 products [member] | Lucentis [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,933 | ||
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Ophthalmology [member] | Top 20 products [member] | Lucentis [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 2,086 | 1,068 | |
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Ophthalmology [member] | Top 20 products [member] | Travoprost Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 316 | 424 | |
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Neuroscience [member] | Top 20 products [member] | Gilenya [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,441 | 1,331 | 1,576 |
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Neuroscience [member] | Top 20 products [member] | Zolgensma [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 461 | ||
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Respiratory [member] | Top 20 products [member] | Xolair [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,251 | 1,173 | 1,039 |
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Cardiovascular, Renal and Metabolism [member] | Top 20 products [member] | Entresto [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,220 | 1,114 | 292 |
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Galvus Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,199 | 725 | 1,284 |
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Diovan Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 879 | 978 | 578 |
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Exforge Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 964 | 1,012 | 698 |
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Zortress/Certican [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 230 | ||
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Kisqali [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 369 | ||
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Established Medicines [member] | Top 20 products [member] | Voltaren/Cataflam [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 319 | ||
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Top 20 products [member] | Cosentyx [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,479 | 1,487 | 1,163 |
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Top 20 products [member] | Ilaris [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 473 | 367 | |
Innovative Medicines | Rest of the world [member] | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Top 20 products [member] | Neoral/Sandimmun(e) [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 323 | ||
Operating segments [member] | Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 39,013 | 37,714 | 34,892 |
Operating segments [member] | Innovative Medicines | Oncology [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 14,711 | 14,370 | 13,428 |
Operating segments [member] | Innovative Medicines | Oncology [member] | Tasigna [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,958 | 1,880 | 1,874 |
Operating segments [member] | Innovative Medicines | Oncology [member] | Sandostatin [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,439 | 1,585 | 1,587 |
Operating segments [member] | Innovative Medicines | Oncology [member] | Afinitor/Votubia [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,083 | 1,539 | 1,556 |
Operating segments [member] | Innovative Medicines | Oncology [member] | Promacta/Revolade [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,738 | 1,416 | 1,174 |
Operating segments [member] | Innovative Medicines | Oncology [member] | Tafinlar + Mekinist [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,542 | 1,338 | 1,155 |
Operating segments [member] | Innovative Medicines | Oncology [member] | Gleevec/Glivec [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,188 | 1,263 | 1,561 |
Operating segments [member] | Innovative Medicines | Oncology [member] | Jakavi [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,339 | 1,114 | 977 |
Operating segments [member] | Innovative Medicines | Oncology [member] | Exjade/Jadenu [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 653 | 975 | 1,099 |
Operating segments [member] | Innovative Medicines | Oncology [member] | Votrient [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 635 | 755 | 828 |
Operating segments [member] | Innovative Medicines | Oncology [member] | Kisqali [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 687 | 480 | 235 |
Operating segments [member] | Innovative Medicines | Oncology [member] | Adakveo [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 105 | 1 | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 24,302 | 23,344 | 21,464 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Ophthalmology [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 4,410 | 4,776 | 4,558 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Ophthalmology [member] | Lucentis [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,933 | 2,086 | 2,046 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 4,323 | 3,773 | 3,429 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | Gilenya [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 3,003 | 3,223 | 3,341 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | Zolgensma [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 920 | 361 | |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Neuroscience [member] | Kesimpta [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 15 | ||
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Respiratory [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,900 | 1,825 | 1,767 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Respiratory [member] | Xolair [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,251 | 1,173 | 1,039 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Cardiovascular, Renal and Metabolism [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 2,498 | 1,750 | 1,050 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Cardiovascular, Renal and Metabolism [member] | Entresto [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 2,497 | 1,726 | 1,028 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 6,303 | 6,998 | 7,268 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Galvus Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,199 | 1,297 | 1,284 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Diovan Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 1,003 | 1,064 | 1,023 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Exforge Group [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 980 | 1,025 | 1,002 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Zortress/Certican [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 452 | 485 | 464 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Neoral/Sandimmun(e) [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 393 | 419 | 463 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Established Medicines [member] | Voltaren/Cataflam [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 360 | 417 | 445 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 4,868 | 4,222 | 3,392 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Cosentyx [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | 3,995 | 3,551 | 2,837 |
Operating segments [member] | Innovative Medicines | Pharmaceutical [member] | Immunology, Hepatology and Dermatology [member] | Ilaris [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 873 | $ 671 | $ 554 |
Segmentation of key figures (_9
Segmentation of key figures (Details 10) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 48,659 | $ 47,445 | $ 44,751 |
Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | 3.00% | 6.00% | |
Sandoz [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (1.00%) | (1.00%) | |
Sandoz [member] | Change to prior year-end [member] | |||
Disclosure of operating segments [line items] | |||
Net sales, change in % | (1.00%) | (1.00%) | |
Sandoz [member] | Retail Generics [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 7,244 | $ 7,590 | 7,880 |
Net sales, change in % | (5.00%) | (4.00%) | |
Sandoz [member] | Biopharmaceuticals [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 1,928 | $ 1,607 | 1,436 |
Net sales, change in % | 20.00% | 12.00% | |
Sandoz [member] | Anti Infectives [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 474 | $ 534 | 543 |
Net sales, change in % | (11.00%) | (2.00%) | |
Sandoz [member] | Anti Infectives [member] | Anti Infectives sold under Sandoz name [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 694 | $ 784 | 826 |
Operating segments [member] | Sandoz [member] | |||
Disclosure of operating segments [line items] | |||
Net sales to third parties from continuing operations | $ 9,646 | $ 9,731 | $ 9,859 |
Segmentation of key figures _10
Segmentation of key figures (Details 11) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Profit sharing income | $ 835 | $ 734 | $ 877 |
Royalty income | 300 | 147 | 188 |
Milestone income | 50 | 231 | 173 |
Other | 54 | 67 | 28 |
Other revenues | 1,239 | 1,179 | 1,266 |
Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Profit sharing income | 835 | 732 | 874 |
Royalty income | 107 | 104 | 162 |
Milestone income | 39 | 201 | 128 |
Other | 37 | 55 | 24 |
Sandoz | |||
Disclosure of operating segments [line items] | |||
Profit sharing income | 0 | 2 | 3 |
Royalty income | 25 | 19 | 10 |
Milestone income | 11 | 30 | 45 |
Other | 17 | 12 | 4 |
Corporate | |||
Disclosure of operating segments [line items] | |||
Royalty income | 168 | 24 | 16 |
Operating segments [member] | Innovative Medicines | |||
Disclosure of operating segments [line items] | |||
Other revenues | 1,018 | 1,092 | 1,188 |
Operating segments [member] | Sandoz | |||
Disclosure of operating segments [line items] | |||
Other revenues | 53 | 63 | 62 |
Operating segments [member] | Corporate | |||
Disclosure of operating segments [line items] | |||
Other revenues | $ 168 | $ 24 | $ 16 |
Associated companies (Details)
Associated companies (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of associates [line items] | |||
Net income statement effect | $ 673 | $ 659 | $ 6,438 |
Other comprehensive income effect | (56) | (94) | (482) |
Total comprehensive income effect | 617 | 565 | 5,956 |
Recycling of the Novartis share of other comprehensive income from associated companies | (511) | ||
Roche Holding AG, Switzerland | |||
Disclosure of associates [line items] | |||
Net income statement effect | 677 | 662 | 526 |
Other comprehensive income effect | (56) | (94) | 75 |
Total comprehensive income effect | 621 | 568 | 601 |
GlaxoSmithKline Consumer Healthcare Holdings Ltd., UK | |||
Disclosure of associates [line items] | |||
Net income statement effect | 5,910 | ||
Other comprehensive income effect | (557) | ||
Total comprehensive income effect | 5,353 | ||
Others | |||
Disclosure of associates [line items] | |||
Net income statement effect | (4) | (3) | 2 |
Total comprehensive income effect | $ (4) | $ (3) | $ 2 |
Associated companies (Details 2
Associated companies (Details 2) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of associates [line items] | ||
Balance sheet value | $ 9,632 | $ 8,644 |
Roche Holding AG, Switzerland | ||
Disclosure of associates [line items] | ||
Balance sheet value | 9,407 | 8,445 |
Others | ||
Disclosure of associates [line items] | ||
Balance sheet value | $ 225 | $ 199 |
Associated companies (Details 3
Associated companies (Details 3) - Roche Holding AG, Switzerland - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of associates [line items] | |||
Proportion of voting rights held in associate | 33.30% | 33.30% | 33.30% |
Proportion of ownership interest in associate | 6.20% | 6.20% | 6.20% |
Dividends received | $ 487 | $ 460 | |
Publicly quoted market value of the Novartis interest | $ 18,800 | $ 16,900 | |
Useful life measured as period of time, intangible assets other than goodwill | 20 years |
Associated companies (Details 4
Associated companies (Details 4) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of associates [line items] | ||||
Current assets | $ 29,673 | $ 29,504 | ||
Non-current assets | 102,386 | 88,866 | ||
Current liabilities | 33,059 | 28,264 | ||
Non-current liabilities | 42,334 | 34,555 | ||
Profit (loss) | 8,071 | 11,737 | $ 12,614 | |
Other comprehensive income | 3,330 | (210) | (406) | |
Comprehensive income | $ 11,401 | 11,527 | $ 12,208 | |
Roche Holding AG, Switzerland | ||||
Disclosure of associates [line items] | ||||
Current assets | $ 27,700 | 31,300 | ||
Non-current assets | 55,700 | 56,400 | ||
Current liabilities | 22,500 | 24,100 | ||
Non-current liabilities | 23,100 | 23,100 | ||
Revenue | 30,400 | 63,800 | ||
Profit (loss) | 7,200 | 12,300 | ||
Other comprehensive income | (700) | (900) | ||
Comprehensive income | $ 6,500 | $ 11,400 |
Associated companies (Details 5
Associated companies (Details 5) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of associates [line items] | ||
Balance sheet value | $ 9,632 | $ 8,644 |
Roche Holding AG, Switzerland | ||
Disclosure of associates [line items] | ||
Novartis share of estimated net assets | 2,585 | |
Novartis share of re-appraised intangible assets | 117 | |
Implicit Novartis goodwill | 3,233 | |
Current value of share in net identifiable assets and goodwill | 5,935 | |
Accumulated equity accounting adjustments and translation effects less dividends received | 3,472 | |
Balance sheet value | $ 9,407 | $ 8,445 |
Associated companies (Details 6
Associated companies (Details 6) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of associates [line items] | |||
Net income statement effect | $ 673 | $ 659 | $ 6,438 |
Roche Holding AG, Switzerland | |||
Disclosure of associates [line items] | |||
Novartis share of current year consolidated net income | 913 | 910 | 799 |
Prior year adjustment | (64) | (129) | (125) |
Amortization of fair value adjustments relating to intangible assets | (172) | (162) | (148) |
Partial release of deferred tax liability recognized | 43 | ||
Net income statement effect | 677 | 662 | 526 |
Amortization of fair value adjustments relating to intangible assets tax | $ 26 | $ 24 | 40 |
GlaxoSmithKline Consumer Healthcare Holdings Ltd., UK | |||
Disclosure of associates [line items] | |||
Novartis share of current year consolidated net income | 119 | ||
Prior year adjustment | 4 | ||
Amortization of fair value adjustments relating to intangible assets | (3) | ||
Gain on divestment | 5,790 | ||
Net income statement effect | 5,910 | ||
Amortization of fair value adjustments relating to intangible assets tax | $ 1 |
Interest expense and other fi_3
Interest expense and other financial income and expense (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest expense [abstract] | |||
Interest expense | $ (708) | $ (714) | $ (877) |
Interest expense on lease liabilities | (67) | (66) | |
Income/expense arising from discounting long-term liabilities | (94) | (70) | (55) |
Total interest expense from continuing operations | $ (869) | $ (850) | $ (932) |
Interest expense and other fi_4
Interest expense and other financial income and expense (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other financial income and expense [abstract] | |||
Interest income | $ 91 | $ 245 | $ 292 |
Dividend income | 18 | 12 | 1 |
Other financial expense | (52) | (52) | (39) |
Currency result, net | (135) | (160) | (68) |
Total other financial income and expense from continuing operations | $ (78) | $ 45 | $ 186 |
Taxes (Details)
Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Income before taxes | $ 9,878 | $ 8,940 | $ 14,095 |
Continuing operations [member] | |||
Statement [line items] | |||
Income before taxes | 9,878 | 8,940 | 14,095 |
Continuing operations [member] | Switzerland | |||
Statement [line items] | |||
Income before taxes | 9,786 | 8,097 | 11,887 |
Continuing operations [member] | Foreign | |||
Statement [line items] | |||
Income before taxes | $ 92 | 843 | 2,208 |
Discontinued operations [member] | |||
Statement [line items] | |||
Income before taxes | $ 58 | $ (260) |
Taxes (Details 2)
Taxes (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Income tax expense | $ (1,807) | $ (1,793) | $ (1,295) |
Continuing operations [member] | |||
Statement [line items] | |||
Current tax expense (income) | (2,100) | (2,147) | (1,603) |
Deferred tax expense (income) | 293 | 354 | 308 |
Income tax expense | (1,807) | (1,793) | (1,295) |
Continuing operations [member] | Switzerland | |||
Statement [line items] | |||
Current tax expense (income) | (932) | (1,186) | (615) |
Deferred tax expense (income) | (137) | (93) | (120) |
Continuing operations [member] | Foreign | |||
Statement [line items] | |||
Current tax expense (income) | (1,168) | (961) | (988) |
Deferred tax expense (income) | $ 430 | 447 | 428 |
Discontinued operations [member] | |||
Statement [line items] | |||
Income tax expense | $ (159) | $ 74 |
Taxes (Details 3)
Taxes (Details 3) - Continuing operations [member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Applicable tax rate | 13.60% | 11.70% | 14.30% |
Effect of disallowed expenditures | 4.60% | 4.80% | 1.70% |
Effect of utilization of tax losses brought forward from prior periods | (0.30%) | (0.10%) | (0.10%) |
Effect of income taxed at reduced rates | (0.30%) | (0.70%) | (0.40%) |
Tax rate effect of revenues exempt from taxation | (0.70%) | 0.00% | (3.70%) |
Effect of tax credits and allowances | (2.30%) | (2.30%) | (2.30%) |
Effect of release of contingent consideration liability | (0.20%) | (0.50%) | (0.20%) |
Effect of tax rate change on current and deferred tax assets and liabilities | 0.30% | (1.40%) | (0.10%) |
Effect of write-off of deferred tax assets | 0.20% | 4.00% | 0.20% |
Effect of write down and reversal of write down of investments in subsidiaries | (0.80%) | (0.60%) | 0.00% |
Effect of prior year items | 2.30% | 2.20% | (0.50%) |
Effect of other items | 1.90% | 3.00% | 0.30% |
Effective tax rate | 18.30% | 20.10% | 9.20% |
Effective income tax rate reconciliation other adjustments | (0.10%) | 0.40% | |
Effective income tax rate reconciliation change in enacted tax rate | 2.00% | 2.60% | |
Effect of income not subject to tax on divestment gain | (3.70%) | ||
Tax benefit arising from previously unrecognised tax loss, tax credit or temporary difference of prior period used to reduce current tax expense | $ 29 | $ 11 | $ 19 |
Earnings per share (Details)
Earnings per share (Details) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | |
Earnings per share [line items] | |||
Profit/loss attributable to shareholders of Novartis AG | $ | $ 8,072 | $ 11,732 | $ 12,611 |
Weighted average number of shares outstanding used in the basic earnings per share | shares | 2,277 | 2,291 | 2,319 |
Adjustment for vesting of restricted shares, restricted share units and dilutive shares from options | shares | 19 | 28 | 25 |
Weighted average number of shares in diluted earnings per share | shares | 2,296 | 2,319 | 2,344 |
Basic earnings per share, Continuing operations | $ 3.55 | $ 3.12 | $ 5.52 |
Basic earnings per share, Discontinued operations | 2 | (0.08) | |
Total basic earnings per share | 3.55 | 5.12 | 5.44 |
Diluted earnings per share, Continuing operations | 3.52 | 3.08 | 5.46 |
Diluted earnings per share, Discontinued operations | 1.98 | (0.08) | |
Total diluted earnings per share | $ 3.52 | $ 5.06 | $ 5.38 |
Options excluded from the calculation | 0 | 0 | 0 |
Continuing operations [member] | |||
Earnings per share [line items] | |||
Profit/loss attributable to shareholders of Novartis AG | $ | $ 8,072 | $ 7,142 | $ 12,797 |
Discontinued operations [member] | |||
Earnings per share [line items] | |||
Profit/loss attributable to shareholders of Novartis AG | $ | $ 4,590 | $ (186) |
Changes in consolidated state_3
Changes in consolidated statements of comprehensive income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Changes in consolidated statements of comprehensive income [line items] | |||
Fair value adjustments on financial instruments | $ 2 | $ 12 | |
Fair value adjustments on debt securities, net of taxes | 1 | ||
Fair value adjustments on deferred cash flow hedges, net of taxes | 1 | 12 | |
Net investment hedge | $ (201) | 44 | 95 |
Net actuarial gains/losses from defined benefit plans, net of taxes | 143 | (467) | (359) |
Currency translation effects | 3,194 | 352 | 315 |
Income tax relating to components of other comprehensive income | (39) | (289) | |
Fair value adjustments on financial instruments [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | 120 | 227 | 218 |
Total value adjustments | 250 | (45) | 25 |
Fair value adjustments related to divestments | 33 | ||
Value adjustments on comprehensive income at end of period | 220 | 120 | 227 |
Fair value adjustments on financial instruments [member] | Previously stated [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | 395 | ||
Fair value adjustments on financial instruments [member] | Increase (decrease) due to changes in accounting policy, IFRS 9 [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (177) | ||
Fair value adjustments on debt securities | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Fair value adjustments on debt securities, net of taxes | 1 | ||
Fair value adjustments on deferred cash flow hedges | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Fair value adjustments on deferred cash flow hedges, net of taxes | 1 | 12 | |
Income tax relating to components of other comprehensive income | (1) | ||
Fair value adjustments on equity securities | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Fair value adjustments on equity securities, net of taxes | 250 | (47) | 13 |
Fair value adjustments on equity securities sold, reclassified to retained earnings | (150) | (95) | (16) |
Income tax relating to components of other comprehensive income | (36) | 47 | (5) |
Actuarial gains/losses from defined benefit plans | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (5,919) | (5,423) | (5,064) |
Net actuarial gains/losses from defined benefit plans, net of taxes | 145 | (466) | (359) |
Total value adjustments | 145 | (466) | (359) |
Fair value adjustments related to divestments | 2 | (30) | |
Impact of change in ownership of consolidated entities | (1) | ||
Value adjustments on comprehensive income at end of period | (5,773) | (5,919) | (5,423) |
Income tax relating to components of other comprehensive income | (3) | (313) | 69 |
Impact of new tax law income tax relating to deferred tax assets on Swiss post retirement previously recognized through OCI | (358) | ||
Actuarial gains/losses from defined benefit plans | Previously stated [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (5,064) | ||
Cumulative currency translation effects | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | 1,142 | 744 | 329 |
Net investment hedge | (201) | 44 | 95 |
Currency translation effects | 3,193 | 354 | 320 |
Total value adjustments | 2,992 | 398 | 415 |
Value adjustments on comprehensive income at end of period | 4,134 | 1,142 | 744 |
Cumulative currency translation gains/losses recycled through income statement | 0 | 129 | (946) |
Cumulative currency translation effects | Previously stated [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | 329 | ||
Total value adjustments | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (4,657) | (4,452) | (4,517) |
Fair value adjustments on debt securities, net of taxes | 1 | ||
Fair value adjustments on deferred cash flow hedges, net of taxes | 1 | 12 | |
Fair value adjustments on equity securities, net of taxes | 250 | (47) | 13 |
Net investment hedge | (201) | 44 | 95 |
Net actuarial gains/losses from defined benefit plans, net of taxes | 145 | (466) | (359) |
Currency translation effects | 3,193 | 354 | 320 |
Total value adjustments | 3,387 | (113) | 81 |
Fair value adjustments on equity securities sold, reclassified to retained earnings | (150) | (95) | (16) |
Fair value adjustments related to divestments | 2 | 3 | |
Impact of change in ownership of consolidated entities | (1) | ||
Value adjustments on comprehensive income at end of period | (1,419) | (4,657) | (4,452) |
Total value adjustments | Previously stated [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (4,340) | ||
Total value adjustments | Increase (decrease) due to changes in accounting policy, IFRS 9 [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (177) | ||
Non-controlling interests [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (29) | (26) | (21) |
Net actuarial gains/losses from defined benefit plans, net of taxes | (2) | (1) | |
Currency translation effects | 1 | (2) | (5) |
Total value adjustments | (1) | (3) | (5) |
Impact of change in ownership of consolidated entities | 1 | ||
Value adjustments on comprehensive income at end of period | (29) | (29) | (26) |
Non-controlling interests [member] | Previously stated [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (21) | ||
Total fair value adjustments [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (4,686) | (4,478) | (4,538) |
Fair value adjustments on debt securities, net of taxes | 1 | ||
Fair value adjustments on deferred cash flow hedges, net of taxes | 1 | 12 | |
Fair value adjustments on equity securities, net of taxes | 250 | (47) | 13 |
Net investment hedge | (201) | 44 | 95 |
Net actuarial gains/losses from defined benefit plans, net of taxes | 143 | (467) | (359) |
Currency translation effects | 3,194 | 352 | 315 |
Total value adjustments | 3,386 | (116) | 76 |
Fair value adjustments on equity securities sold, reclassified to retained earnings | (150) | (95) | (16) |
Fair value adjustments related to divestments | 2 | 3 | |
Value adjustments on comprehensive income at end of period | $ (1,448) | $ (4,686) | (4,478) |
Total fair value adjustments [member] | Previously stated [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | (4,361) | ||
Total fair value adjustments [member] | Increase (decrease) due to changes in accounting policy, IFRS 9 [member] | |||
Changes in consolidated statements of comprehensive income [line items] | |||
Value adjustments on comprehensive income at beginning of period | $ (177) |
Property, plant and equipment_2
Property, plant and equipment (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | $ 12,069 | |
Additions | 1,265 | $ 1,474 |
Property, plant and equipment at end of period | 12,263 | 12,069 |
Commitments for purchases of property, plant and equipment | 256 | 220 |
Capitalized borrowing costs | 2 | 4 |
Gross carrying amount | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | 26,999 | 34,028 |
Costs of assets related to discontinued operations | (5,009) | |
Decrease through reclassification to right-of-use assets | (127) | |
Cost of assets reclassified out of assets of disposal group held for sale | 332 | (23) |
Impact of business combinations | 26 | 44 |
Additions | 1,265 | 1,474 |
Disposals and derecognitions | (2,201) | (3,409) |
Currency translation effects | 1,797 | 21 |
Property, plant and equipment at end of period | 28,218 | 26,999 |
Accumulated depreciation, amortisation and impairment | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | (14,930) | (18,332) |
Costs of assets related to discontinued operations | 2,118 | |
Decrease through reclassification to right-of-use assets | 26 | |
Accumulated depreciation on assets reclassified out of assets of disposal group held for sale | (163) | 2 |
Accumulated depreciation on disposals and derecognitions | 2,004 | 2,846 |
Depreciation charge | (1,318) | (1,345) |
Impairment charge | (447) | (205) |
Reversal of impairment charge | 7 | 3 |
Currency translation effects | (1,108) | (43) |
Property, plant and equipment at end of period | (15,955) | (14,930) |
Depreciation charge prior to classification to assets held for sale | (38) | 0 |
Impairment charge prior to classification to assets held for sale | (2) | |
Land | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | 492 | |
Property, plant and equipment at end of period | 536 | 492 |
Land | Gross carrying amount | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | 512 | 696 |
Costs of assets related to discontinued operations | (61) | |
Decrease through reclassification to right-of-use assets | (122) | |
Cost of assets reclassified out of assets of disposal group held for sale | 11 | |
Impact of business combinations | 2 | 10 |
Reclassifications | 10 | 57 |
Additions | 7 | 6 |
Disposals and derecognitions | (23) | (75) |
Currency translation effects | 36 | 1 |
Property, plant and equipment at end of period | 555 | 512 |
Land | Accumulated depreciation, amortisation and impairment | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | (20) | (43) |
Costs of assets related to discontinued operations | 8 | |
Decrease through reclassification to right-of-use assets | 26 | |
Accumulated depreciation on assets reclassified out of assets of disposal group held for sale | 0 | |
Accumulated depreciation on disposals and derecognitions | 17 | |
Depreciation charge | 0 | |
Impairment charge | (15) | (10) |
Currency translation effects | (1) | (1) |
Property, plant and equipment at end of period | (19) | (20) |
Buildings | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | 6,339 | |
Property, plant and equipment at end of period | 6,570 | 6,339 |
Buildings | Gross carrying amount | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | 11,463 | 14,135 |
Costs of assets related to discontinued operations | (1,615) | |
Decrease through reclassification to right-of-use assets | (3) | |
Cost of assets reclassified out of assets of disposal group held for sale | 117 | (3) |
Impact of business combinations | 19 | 24 |
Reclassifications | 433 | 332 |
Additions | 115 | 112 |
Disposals and derecognitions | (465) | (1,551) |
Currency translation effects | 695 | 32 |
Property, plant and equipment at end of period | 12,377 | 11,463 |
Buildings | Accumulated depreciation, amortisation and impairment | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | (5,124) | (6,328) |
Costs of assets related to discontinued operations | 562 | |
Accumulated depreciation on assets reclassified out of assets of disposal group held for sale | (58) | 2 |
Accumulated depreciation on disposals and derecognitions | 433 | 1,170 |
Depreciation charge | (491) | (447) |
Impairment charge | (194) | (51) |
Reversal of impairment charge | 1 | |
Currency translation effects | (373) | (33) |
Property, plant and equipment at end of period | (5,807) | (5,124) |
Depreciation charge prior to classification to assets held for sale | (20) | |
Construction in progress | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | 1,290 | |
Property, plant and equipment at end of period | 1,182 | 1,290 |
Construction in progress | Gross carrying amount | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | 1,350 | 2,042 |
Costs of assets related to discontinued operations | (655) | |
Cost of assets reclassified out of assets of disposal group held for sale | 36 | (12) |
Impact of business combinations | 1 | |
Reclassifications | (1,038) | (1,019) |
Additions | 847 | 1,001 |
Disposals and derecognitions | (57) | (9) |
Currency translation effects | 110 | 1 |
Property, plant and equipment at end of period | 1,248 | 1,350 |
Construction in progress | Accumulated depreciation, amortisation and impairment | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | (60) | (37) |
Costs of assets related to discontinued operations | 7 | |
Accumulated depreciation on assets reclassified out of assets of disposal group held for sale | (4) | |
Accumulated depreciation on disposals and derecognitions | 11 | 2 |
Impairment charge | (10) | (34) |
Reversal of impairment charge | 2 | |
Currency translation effects | (3) | |
Property, plant and equipment at end of period | (66) | (60) |
Machinery and other equipment | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | 3,948 | |
Property, plant and equipment at end of period | 3,975 | 3,948 |
Machinery and other equipment | Gross carrying amount | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | 13,674 | 17,155 |
Costs of assets related to discontinued operations | (2,678) | |
Decrease through reclassification to right-of-use assets | (2) | |
Cost of assets reclassified out of assets of disposal group held for sale | 168 | (8) |
Impact of business combinations | 5 | 9 |
Reclassifications | 595 | 630 |
Additions | 296 | 355 |
Disposals and derecognitions | (1,656) | (1,774) |
Currency translation effects | 956 | (13) |
Property, plant and equipment at end of period | 14,038 | 13,674 |
Machinery and other equipment | Accumulated depreciation, amortisation and impairment | ||
Movements of property, plant and equipment [roll forward] | ||
Property, plant and equipment at beginning of period | (9,726) | (11,924) |
Costs of assets related to discontinued operations | 1,541 | |
Accumulated depreciation on assets reclassified out of assets of disposal group held for sale | (101) | |
Accumulated depreciation on disposals and derecognitions | 1,543 | 1,674 |
Depreciation charge | (827) | (898) |
Impairment charge | (228) | (110) |
Reversal of impairment charge | 7 | |
Currency translation effects | (731) | (9) |
Property, plant and equipment at end of period | (10,063) | $ (9,726) |
Depreciation charge prior to classification to assets held for sale | $ (18) |
Lease liability and Right-of-us
Lease liability and Right-of-use assets (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | $ 1,676 | $ 1,677 | $ 1,554 |
Depreciation charge | (330) | (305) | |
Land [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | 528 | 537 | |
Depreciation charge | (11) | (14) | |
Buildings [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | 963 | 990 | |
Depreciation charge | (207) | (194) | |
Vehicles [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | 155 | 129 | |
Depreciation charge | (100) | (87) | |
Machinery & equipment and other assets | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Right-of-use assets | 30 | 21 | |
Depreciation charge | $ (12) | $ (10) |
Lease liability and Right-of-_2
Lease liability and Right-of-use assets (Details 3) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Movements of the right-of-use assets [roll forward] | ||
Right-of-use assets at beginning of period | $ 1,677 | |
Impact of business combinations | 32 | |
Additions to right-of-use assets | 346 | $ 537 |
Depreciation charge | (330) | (305) |
Lease contract terminations, right-of-use assets | (63) | (98) |
Impact of divestments | (32) | (17) |
Increase decrease through net exchange differences, right-of-use assets | 46 | 6 |
Right-of-use assets at end of period | 1,676 | 1,677 |
Impairment loss recognised in profit or loss, right of use assets | $ 0 | 0 |
Discontinued operations | ||
Movements of the right-of-use assets [roll forward] | ||
Additions to right-of-use assets | $ 3 |
Lease liability and Right-of-_3
Lease liability and Right-of-use assets (Details 4) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 |
Disclosure of maturity analysis of total lease liabilities [line items] | |||
Lease liabilities | $ 2,005 | $ 1,949 | $ 1,736 |
Lease liabilities undiscounted | 3,507 | 3,485 | |
Less current lease liabilities | (286) | (246) | |
Less current lease liabilities undiscounted | (338) | (295) | |
Non-current lease liabilities | 1,719 | 1,703 | |
Non-current lease liabilities undiscounted | 3,169 | 3,190 | |
Most material lease with lease term extension | 600 | 600 | |
Not later than one year [member] | |||
Disclosure of maturity analysis of total lease liabilities [line items] | |||
Lease liabilities | 286 | 246 | |
Lease liabilities undiscounted | 338 | 295 | |
Later than one year and not later than two years [member] | |||
Disclosure of maturity analysis of total lease liabilities [line items] | |||
Lease liabilities | 229 | 202 | |
Lease liabilities undiscounted | 274 | 246 | |
Later than two years and not later than three years [member] | |||
Disclosure of maturity analysis of total lease liabilities [line items] | |||
Lease liabilities | 186 | 163 | |
Lease liabilities undiscounted | 226 | 202 | |
Later than three years and not later than four years [member] | |||
Disclosure of maturity analysis of total lease liabilities [line items] | |||
Lease liabilities | 148 | 138 | |
Lease liabilities undiscounted | 183 | 173 | |
Later than four years and not later than five years [member] | |||
Disclosure of maturity analysis of total lease liabilities [line items] | |||
Lease liabilities | 129 | 119 | |
Lease liabilities undiscounted | 160 | 150 | |
Later than five years [member] | |||
Disclosure of maturity analysis of total lease liabilities [line items] | |||
Lease liabilities | 1,027 | 1,081 | |
Lease liabilities undiscounted | $ 2,326 | $ 2,419 |
Lease liability and Right-of-_4
Lease liability and Right-of-use assets (Details 5) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Interest expense on lease liabilities | $ 67 | $ 66 |
Expense relating to short-term leases for which recognition exemption has been used | 4 | 7 |
Expense relating to leases of low-value assets for which recognition exemption has been used | 7 | 8 |
Cash outflow | 379 | 339 |
Cash outflows for short term and low value leases | 11 | 15 |
Cash outflows for payments of leases interest | 56 | 51 |
Repayment of lease liability | $ 312 | $ 273 |
Weighted average interest rate lease liabilities | 3.40% | 3.90% |
Lease incentives | $ 0 | $ 33 |
Lease liability and Right-of-_5
Lease liability and Right-of-use assets (Details 6) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2020 | Jan. 01, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Lease liabilities | $ 1,949 | $ 2,005 | $ 1,736 |
Right-of-use assets | 1,677 | $ 1,676 | $ 1,554 |
Sale and lease back [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Cash inflow for sale and leaseback | 700 | ||
Lease liabilities | 96 | ||
Right-of-use assets | 37 | ||
Gains or losses from sales leaseback | $ 478 |
Goodwill and intangible asset_2
Goodwill and intangible assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | $ 55,311 | ||
Additions | 1,425 | $ 767 | |
Reversal of impairment charge | 37 | $ 0 | |
Intangible assets and goodwill at end of period | 66,808 | 55,311 | |
Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 26,524 | ||
Intangible assets and goodwill at end of period | 29,999 | 26,524 | |
Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 28,787 | ||
Intangible assets and goodwill at end of period | 36,809 | 28,787 | |
Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 5,424 | ||
Intangible assets and goodwill at end of period | 4,700 | 5,424 | |
Technologies | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 163 | ||
Intangible assets and goodwill at end of period | 230 | 163 | |
Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 22,579 | ||
Intangible assets and goodwill at end of period | 30,767 | 22,579 | |
Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 621 | ||
Intangible assets and goodwill at end of period | 1,112 | 621 | |
Gross carrying amount | |||
Disclosure of detailed information about intangible assets [line items] | |||
Additions included in disposal group to the date of reclassification | 0 | ||
Gross carrying amount | Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 26,825 | 35,700 | |
Cost of assets related to discontinued operations | (9,000) | ||
Impact of business combinations | 2,580 | 186 | |
Currency translation effects | 916 | (61) | |
Intangible assets and goodwill at end of period | 30,321 | 26,825 | 35,700 |
Gross carrying amount | Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 53,419 | 69,025 | |
Cost of assets related to disposal group held for sale | 1,400 | 3 | |
Cost of assets related to discontinued operations | (19,570) | ||
Impact of business combinations | 9,014 | 3,914 | |
Additions | 1,425 | 767 | |
Disposals and derecognitions | (572) | (1,055) | |
Currency translation effects | 3,039 | 335 | |
Intangible assets and goodwill at end of period | 67,725 | 53,419 | 69,025 |
Gross carrying amount | Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 7,429 | 16,167 | |
Cost of assets related to disposal group held for sale | 10 | (1) | |
Cost of assets related to discontinued operations | (249) | ||
Impact of business combinations | 8,600 | 342 | |
Reclassifications | (9,272) | (9,069) | |
Additions | 339 | 265 | |
Disposals and derecognitions | (421) | (75) | |
Currency translation effects | 208 | 49 | |
Intangible assets and goodwill at end of period | 6,893 | 7,429 | 16,167 |
Gross carrying amount | Alcon brand name [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 2,980 | ||
Cost of assets related to discontinued operations | (2,980) | ||
Intangible assets and goodwill at end of period | 2,980 | ||
Gross carrying amount | Technologies | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 884 | 6,253 | |
Cost of assets related to disposal group held for sale | 276 | ||
Cost of assets related to discontinued operations | (5,369) | ||
Reclassifications | (2) | ||
Disposals and derecognitions | (101) | ||
Currency translation effects | 58 | ||
Intangible assets and goodwill at end of period | 1,115 | 884 | 6,253 |
Gross carrying amount | Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 43,548 | 35,412 | |
Cost of assets related to disposal group held for sale | 1,112 | 4 | |
Cost of assets related to discontinued operations | (4,440) | ||
Impact of business combinations | 196 | 3,550 | |
Reclassifications | 9,274 | 9,069 | |
Additions | 674 | 243 | |
Disposals and derecognitions | (39) | (544) | |
Currency translation effects | 2,568 | 254 | |
Intangible assets and goodwill at end of period | 57,333 | 43,548 | 35,412 |
Gross carrying amount | Marketing know-how | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 5,960 | ||
Cost of assets related to discontinued operations | (5,960) | ||
Intangible assets and goodwill at end of period | 5,960 | ||
Gross carrying amount | Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | 1,558 | 2,253 | |
Cost of assets related to disposal group held for sale | 2 | ||
Cost of assets related to discontinued operations | (572) | ||
Impact of business combinations | 218 | 22 | |
Additions | 412 | 259 | |
Disposals and derecognitions | (11) | (436) | |
Currency translation effects | 205 | 32 | |
Intangible assets and goodwill at end of period | 2,384 | 1,558 | 2,253 |
Accumulated depreciation, amortisation and impairment | Assets and liabilities classified as held for sale [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Amortization prior to classification to assets held for sale | 102 | ||
Accumulated depreciation, amortisation and impairment | Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (301) | (406) | |
Accumulated amortization/impairments on assets related to discontinued operations | 101 | ||
Currency translation effects | (21) | 4 | |
Intangible assets and goodwill at end of period | (322) | (301) | (406) |
Accumulated depreciation, amortisation and impairment | Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (24,632) | (30,306) | |
Accumulated amortization/impairments on assets reclassified out of assets of disposal group held for sale | (925) | ||
Amortization charge | (3,462) | (2,836) | |
Accumulated impairments on disposals and derecognition | 567 | 983 | |
Accumulated amortization/impairments on assets related to discontinued operations | 8,813 | ||
Impairment charge | (914) | (1,175) | |
Reversal of impairment charge | 37 | ||
Currency translation effects | (1,550) | (148) | |
Intangible assets and goodwill at end of period | (30,916) | (24,632) | (30,306) |
Accumulated depreciation, amortisation and impairment | Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (2,005) | (1,120) | |
Accumulated amortization/impairments on assets reclassified out of assets of disposal group held for sale | (2) | ||
Accumulated impairments on disposals and derecognition | 421 | 70 | |
Accumulated amortization/impairments on assets related to discontinued operations | 3 | ||
Impairment charge | (515) | (984) | |
Reversal of impairment charge | 37 | ||
Currency translation effects | (92) | (11) | |
Intangible assets and goodwill at end of period | (2,193) | (2,005) | (1,120) |
Accumulated depreciation, amortisation and impairment | Technologies | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (721) | (4,758) | |
Accumulated amortization/impairments on assets reclassified out of assets of disposal group held for sale | (107) | ||
Amortization charge | (72) | (42) | |
Accumulated impairments on disposals and derecognition | 101 | ||
Accumulated amortization/impairments on assets related to discontinued operations | 4,184 | ||
Impairment charge | (40) | (105) | |
Currency translation effects | (46) | ||
Intangible assets and goodwill at end of period | (885) | (721) | (4,758) |
Accumulated depreciation, amortisation and impairment | Technologies | Assets and liabilities classified as held for sale [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Amortization prior to classification to assets held for sale | 29 | ||
Accumulated depreciation, amortisation and impairment | Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (20,969) | (21,218) | |
Accumulated amortization/impairments on assets reclassified out of assets of disposal group held for sale | (816) | ||
Amortization charge | (3,215) | (2,657) | |
Accumulated impairments on disposals and derecognition | 39 | 494 | |
Accumulated amortization/impairments on assets related to discontinued operations | 2,592 | ||
Impairment charge | (338) | (54) | |
Currency translation effects | (1,267) | (126) | |
Intangible assets and goodwill at end of period | (26,566) | (20,969) | (21,218) |
Impairment charges related to disposal group held for sale | (42) | ||
Accumulated depreciation, amortisation and impairment | Currently marketed products | Assets and liabilities classified as held for sale [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Amortization prior to classification to assets held for sale | 73 | ||
Accumulated depreciation, amortisation and impairment | Marketing know-how | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (1,906) | ||
Accumulated amortization/impairments on assets related to discontinued operations | 1,906 | ||
Intangible assets and goodwill at end of period | (1,906) | ||
Accumulated depreciation, amortisation and impairment | Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets and goodwill at beginning of period | (937) | (1,304) | |
Amortization charge | (175) | (137) | |
Accumulated impairments on disposals and derecognition | 6 | 419 | |
Accumulated amortization/impairments on assets related to discontinued operations | 128 | ||
Impairment charge | (21) | (32) | |
Currency translation effects | (145) | (11) | |
Intangible assets and goodwill at end of period | $ (1,272) | $ (937) | $ (1,304) |
Goodwill and intangible asset_3
Goodwill and intangible assets (Details 2) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | $ 66,808 | $ 55,311 |
Operating segments [member] | Innovative Medicines | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 56,839 | 46,336 |
Operating segments [member] | Sandoz | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 9,817 | 8,892 |
Operating segments [member] | Corporate | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 152 | 83 |
Goodwill | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 29,999 | 26,524 |
Goodwill | Operating segments [member] | Innovative Medicines | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 21,718 | 18,750 |
Goodwill | Operating segments [member] | Sandoz | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 8,274 | 7,767 |
Goodwill | Operating segments [member] | Corporate | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 7 | 7 |
Intangible Assets other than Goodwill | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 36,809 | 28,787 |
Intangible Assets other than Goodwill | Operating segments [member] | Innovative Medicines | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 35,121 | 27,586 |
Intangible Assets other than Goodwill | Operating segments [member] | Sandoz | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 1,543 | 1,125 |
Intangible Assets other than Goodwill | Operating segments [member] | Corporate | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 145 | 76 |
Acquired research and development [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 4,700 | 5,424 |
Acquired research and development [member] | Operating segments [member] | Innovative Medicines | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 4,548 | 5,339 |
Acquired research and development [member] | Operating segments [member] | Sandoz | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 152 | 85 |
Acquired research and development [member] | Operating segments [member] | Corporate | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 0 | |
Technologies | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 230 | 163 |
Technologies | Operating segments [member] | Innovative Medicines | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 3 | 7 |
Technologies | Operating segments [member] | Sandoz | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 227 | 156 |
Technologies | Operating segments [member] | Corporate | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 0 | |
Currently marketed products | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 30,767 | 22,579 |
Currently marketed products | Operating segments [member] | Innovative Medicines | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 29,645 | 21,720 |
Currently marketed products | Operating segments [member] | Sandoz | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 1,122 | 859 |
Currently marketed products | Operating segments [member] | Corporate | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 0 | |
Other intangible assets | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 1,112 | 621 |
Other intangible assets | Operating segments [member] | Innovative Medicines | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 925 | 520 |
Other intangible assets | Operating segments [member] | Sandoz | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | 42 | 25 |
Other intangible assets | Operating segments [member] | Corporate | ||
Disclosure of detailed information about intangible assets [line items] | ||
Net book value | $ 145 | $ 76 |
Goodwill and intangible asset_4
Goodwill and intangible assets (Details 3) - Operating segments [member] | Dec. 31, 2020 |
Innovative Medicines | |
Disclosure of detailed information about intangible assets [line items] | |
Terminal Growth Rate | 1.50% |
Discount Rate (post-tax) | 6.50% |
Sandoz | |
Disclosure of detailed information about intangible assets [line items] | |
Terminal Growth Rate | 1.50% |
Discount Rate (post-tax) | 6.50% |
Goodwill and intangible asset_5
Goodwill and intangible assets (Details 4) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about intangible assets [line items] | |||
Reversal of impairment charge | $ 37 | $ 0 | |
Operating segments [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | $ (914) | (1,175) | (841) |
Operating segments [member] | Innovative Medicines | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (768) | (669) | (592) |
Operating segments [member] | Sandoz | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (141) | (506) | (249) |
Operating segments [member] | Sandoz | Disposal groups classified as held for sale [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (220) | ||
Operating segments [member] | Corporate | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (5) | ||
Accumulated depreciation, amortisation and impairment | Intangible Assets other than Goodwill | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (914) | (1,175) | |
Reversal of impairment charge | 37 | ||
Accumulated depreciation, amortisation and impairment | Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (515) | (984) | |
Reversal of impairment charge | 37 | ||
Accumulated depreciation, amortisation and impairment | Technologies | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (40) | (105) | |
Accumulated depreciation, amortisation and impairment | Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (338) | (54) | |
Accumulated depreciation, amortisation and impairment | Other intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (21) | (32) | |
Accumulated depreciation, amortisation and impairment | Disposal groups classified as held for sale [member] | Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (37) | ||
Accumulated depreciation, amortisation and impairment | Innovative Medicines | Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (485) | (416) | |
Accumulated depreciation, amortisation and impairment | Innovative Medicines | Votrient [member] | Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | $ (181) | ||
Accumulated depreciation, amortisation and impairment | Innovative Medicines | Votrient [member] | Currently marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | $ (400) | ||
Accumulated depreciation, amortisation and impairment | Innovative Medicines | Other [member] | Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | (108) | ||
Accumulated depreciation, amortisation and impairment | Operating segments [member] | Acquired research and development [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment charge | $ (442) |
Deferred tax assets and liabi_3
Deferred tax assets and liabilities (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 08, 2019 | Dec. 31, 2018 | |
Statement [line items] | ||||||
Gross deferred tax assets | $ 8,344 | $ 7,952 | $ 8,782 | |||
Deferred tax assets | 8,214 | 7,909 | ||||
Gross deferred tax liabilities | (7,552) | (5,910) | (7,558) | |||
Deferred tax liabilities | (7,422) | (5,867) | ||||
Net deferred tax balance | $ 792 | $ 2,042 | 792 | 2,042 | 1,224 | |
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | 2,042 | 1,224 | ||||
Credited/(charged) to income | 293 | 354 | ||||
Charged to equity | 9 | (83) | ||||
Credited/(charged) to other comprehensive income | (39) | (289) | ||||
Impact of business combinations | (1,501) | (47) | ||||
Other movements | (12) | 25 | ||||
Net deferred tax balance at end of period | 792 | 2,042 | ||||
Offsetting of deferred tax assets and liabilities within the same tax jurisdiction | 130 | 43 | ||||
Deferred tax assets | 8,214 | 7,909 | ||||
Deferred tax liabilities | (7,422) | (5,867) | ||||
Property, plant and equipment [member] | ||||||
Statement [line items] | ||||||
Gross deferred tax assets | 189 | 108 | 191 | |||
Gross deferred tax liabilities | (430) | (390) | (622) | |||
Net deferred tax balance | (241) | (282) | (241) | (282) | (431) | |
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | (282) | (431) | ||||
Credited/(charged) to income | 89 | 74 | ||||
Impact of business combinations | 5 | 3 | ||||
Other movements | (53) | (10) | ||||
Net deferred tax balance at end of period | (241) | (282) | ||||
Intangible assets [member] | ||||||
Statement [line items] | ||||||
Gross deferred tax assets | 1,351 | 1,469 | 1,233 | |||
Gross deferred tax liabilities | (5,269) | (3,610) | (5,384) | |||
Net deferred tax balance | (2,141) | (4,151) | (3,918) | (2,141) | (4,151) | |
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | (2,141) | (4,151) | ||||
Credited/(charged) to income | 110 | 605 | ||||
Charged to equity | 8 | |||||
Impact of business combinations | (1,945) | (45) | ||||
Other movements | 58 | 39 | ||||
Net deferred tax balance at end of period | (3,918) | (2,141) | ||||
Pensions and other benefit obligations of associates [member] | ||||||
Statement [line items] | ||||||
Gross deferred tax assets | 1,137 | 1,078 | 1,188 | |||
Gross deferred tax liabilities | (340) | (291) | (273) | |||
Net deferred tax balance | 797 | 915 | 797 | 787 | 915 | |
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | 787 | 915 | ||||
Credited/(charged) to income | (25) | 308 | ||||
Credited/(charged) to other comprehensive income | (3) | (313) | ||||
Other movements | 38 | |||||
Net deferred tax balance at end of period | 797 | 787 | ||||
Inventories [member] | ||||||
Statement [line items] | ||||||
Gross deferred tax assets | 2,502 | 2,446 | 3,722 | |||
Gross deferred tax liabilities | (159) | (287) | (474) | |||
Net deferred tax balance | 2,159 | 2,159 | 2,343 | 2,159 | 3,248 | |
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | 2,159 | 3,248 | ||||
Credited/(charged) to income | 212 | (818) | ||||
Impact of business combinations | (3) | |||||
Other movements | (25) | (23) | ||||
Net deferred tax balance at end of period | 2,343 | 2,159 | ||||
Tax loss carryforwards [member] | ||||||
Statement [line items] | ||||||
Gross deferred tax assets | 507 | 255 | 273 | |||
Gross deferred tax liabilities | (10) | (7) | ||||
Net deferred tax balance | 497 | 273 | 497 | 248 | 273 | |
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | 248 | 273 | ||||
Credited/(charged) to income | (164) | (113) | ||||
Charged to equity | 75 | |||||
Impact of business combinations | 408 | 21 | ||||
Other movements | 5 | 31 | ||||
Net deferred tax balance at end of period | 497 | 248 | ||||
Other assets, provisions and accruals [member] | ||||||
Statement [line items] | ||||||
Gross deferred tax assets | 2,658 | 2,596 | 2,175 | |||
Gross deferred tax liabilities | (1,344) | (1,325) | (805) | |||
Net deferred tax balance | 1,271 | 1,271 | $ 1,314 | $ 1,271 | 1,370 | |
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | 1,271 | 1,370 | ||||
Credited/(charged) to income | 71 | 298 | ||||
Charged to equity | 9 | (166) | ||||
Credited/(charged) to other comprehensive income | (36) | 24 | ||||
Impact of business combinations | 34 | (26) | ||||
Other movements | (35) | (12) | ||||
Net deferred tax balance at end of period | $ 1,314 | 1,271 | ||||
Discontinued operations [member] | ||||||
Statement [line items] | ||||||
Deferred tax assets | $ 732 | |||||
Deferred tax liabilities | (1,713) | |||||
Net deferred tax balance | 858 | 858 | ||||
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | 858 | |||||
Net deferred tax balance at end of period | ||||||
Deferred tax assets | 732 | |||||
Deferred tax liabilities | $ (1,713) | |||||
Discontinued operations [member] | Property, plant and equipment [member] | ||||||
Statement [line items] | ||||||
Net deferred tax balance | 82 | 82 | ||||
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | 82 | |||||
Net deferred tax balance at end of period | ||||||
Discontinued operations [member] | Intangible assets [member] | ||||||
Statement [line items] | ||||||
Net deferred tax balance | 1,403 | 1,403 | ||||
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | 1,403 | |||||
Net deferred tax balance at end of period | ||||||
Discontinued operations [member] | Pensions and other benefit obligations of associates [member] | ||||||
Statement [line items] | ||||||
Net deferred tax balance | (123) | (123) | ||||
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | (123) | |||||
Net deferred tax balance at end of period | ||||||
Discontinued operations [member] | Inventories [member] | ||||||
Statement [line items] | ||||||
Net deferred tax balance | (248) | (248) | ||||
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | (248) | |||||
Net deferred tax balance at end of period | ||||||
Discontinued operations [member] | Tax loss carryforwards [member] | ||||||
Statement [line items] | ||||||
Net deferred tax balance | (39) | (39) | ||||
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | (39) | |||||
Net deferred tax balance at end of period | ||||||
Discontinued operations [member] | Other assets, provisions and accruals [member] | ||||||
Statement [line items] | ||||||
Net deferred tax balance | (217) | $ (217) | ||||
Movement in deferred tax balance [roll forward] | ||||||
Net deferred tax balance at beginning of period | $ (217) | |||||
Net deferred tax balance at end of period |
Deferred tax assets and liabi_4
Deferred tax assets and liabilities (Details 2) - USD ($) $ in Billions | Dec. 31, 2020 | Dec. 31, 2019 |
Investments in subsidiaries [member] | ||
Statement [line items] | ||
Temporary differences on which no deferred tax has been provided as they are permanent in nature | $ 5 | $ 3 |
Goodwill from acquisitions [member] | ||
Statement [line items] | ||
Deductible temporary differences for which no deferred tax liability is recognised | $ (27) | $ (24) |
Deferred tax assets and liabi_5
Deferred tax assets and liabilities (Details 3) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | $ 6,805 | $ 2,986 | |
Tax loss carryforwards expired | 14 | 9 | $ 8 |
One year [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 20 | 14 | |
Two years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 6 | 28 | |
Three years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 8 | 34 | |
Four years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 23 | 62 | |
Five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 51 | 164 | |
More than five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 5,691 | 2,339 | |
Not subject to expiry [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 1,006 | 345 | |
Capitalized [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 3,025 | 2,338 | |
Capitalized [member] | One year [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 0 | ||
Capitalized [member] | Two years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 5 | 0 | |
Capitalized [member] | Three years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 6 | 6 | |
Capitalized [member] | Four years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 46 | ||
Capitalized [member] | Five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 40 | 37 | |
Capitalized [member] | More than five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 2,291 | 2,214 | |
Capitalized [member] | Not subject to expiry [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 683 | 35 | |
Not capitalized [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 3,780 | 648 | |
Not capitalized [member] | One year [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 20 | 14 | |
Not capitalized [member] | Two years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 1 | 28 | |
Not capitalized [member] | Three years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 2 | 28 | |
Not capitalized [member] | Four years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 23 | 16 | |
Not capitalized [member] | Five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 11 | 127 | |
Not capitalized [member] | More than five years [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | 3,400 | 125 | |
Tax loss carry forwards | 3,200 | ||
Not capitalized [member] | More than five years [member] | The Medicines Company | |||
Statement [line items] | |||
Tax loss carry forwards | 1,600 | ||
Not capitalized [member] | Not subject to expiry [member] | |||
Statement [line items] | |||
Gross Value of tax loss carryforwards that have or have not been capitalized as deferred tax assets | $ 323 | $ 310 |
Deferred tax assets and liabi_6
Deferred tax assets and liabilities (Details 4) - USD ($) $ in Billions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Statement [line items] | ||
Deferred tax asset expected to have an impact on current taxes payable after more than 12 months | $ 4.5 | $ 4.3 |
Deferred tax liabilities expected to have an impact on current taxes payable after more than 12 months | 7 | 5.2 |
Unremitted earnings retained by consolidated entities for reinvestment | $ 27 | 26 |
Provision for income taxes on unremitted earnings | $ 0 |
Deferred tax assets and liabi_7
Deferred tax assets and liabilities (Details 5) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred tax asset and liability valuation [abstract] | ||
Items previously recognized in consolidated income statement | $ 234 | |
Items previously recognized in other comprehensive income | (358) | |
Total revaluation of deferred tax assets and liabilities | $ (124) | |
Impact of new tax reform effective tax rate after implemetation of new reform changes | 13.00% | 8.00% |
Impact of new tax reform effective blended tax rate after implemetation of new reform changes | 13.00% | 22.00% |
Income statement [member] | ||
Deferred tax asset and liability valuation [abstract] | ||
Items previously recognized in consolidated income statement | $ 234 | |
Total revaluation of deferred tax assets and liabilities | 234 | |
Equity [member] | ||
Deferred tax asset and liability valuation [abstract] | ||
Items previously recognized in other comprehensive income | (358) | |
Total revaluation of deferred tax assets and liabilities | $ (358) |
Financial and other non-curre_3
Financial and other non-current assets (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of financial assets [abstract] | ||
Non-current financial assets, equity investments | $ 1,577 | $ 1,524 |
Non-current financial asstets debt securities | 36 | 33 |
Non-current financial assets, fund investments | 366 | 233 |
Noncurrent financial assets, total financial investments | 1,979 | 1,790 |
Long term receivables from finance subleases | 83 | 66 |
Other long-term receivables | 125 | 104 |
Contingent consideration receivables | 625 | 399 |
Long-term loans, advances and security deposits | 89 | 159 |
Total financial assets | $ 2,901 | $ 2,518 |
Financial and other non-curre_4
Financial and other non-current assets (Details 2) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of other non-current assets [abstract] | ||
Deferred compensation plans assets | $ 471 | $ 414 |
Prepaid post-employment benefit plans assets | 202 | 148 |
Other non-current assets | 219 | 176 |
Total other non-current assets | $ 892 | $ 738 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Inventory | |||
Inventory | $ 7,131 | $ 5,982 | |
Amount of inventory recognized as expense | (8,500) | (8,500) | $ (8,300) |
Inventory provisions | (702) | (752) | (603) |
Reversed inventory Provisions | 255 | 218 | $ 216 |
Raw material, consumables | |||
Inventory | |||
Inventory | 967 | 751 | |
Work in progress | |||
Inventory | |||
Inventory | 3,324 | 3,024 | |
Finished products | |||
Inventory | |||
Inventory | $ 2,840 | $ 2,207 |
Trade receivables (Details)
Trade receivables (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of provision matrix [line items] | ||||
Total trade receivables, net | $ 8,217 | $ 8,301 | ||
Trade receivables [member] | ||||
Disclosure of provision matrix [line items] | ||||
Total trade receivables, net | 8,217 | 8,301 | ||
Trade receivables [member] | Gross carrying amount [member] | ||||
Disclosure of provision matrix [line items] | ||||
Total trade receivables, net | 8,310 | 8,396 | ||
Trade receivables [member] | Provision for doubtful receivable [member] | ||||
Disclosure of provision matrix [line items] | ||||
Provision for doubtful receivable | $ (93) | $ (95) | $ (126) | $ (190) |
Trade receivables (Details 2)
Trade receivables (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of provision matrix [line items] | |||
Utilization of reversal of provisions for doubtful trade receivables | $ 19,294 | $ 19,348 | $ 18,567 |
Trade receivables [member] | Provision for doubtful receivable [member] | |||
Disclosure of provision matrix [line items] | |||
Provision for doubtful receivable at beginning of period | (95) | (126) | (190) |
Impact of business combinations | (1) | ||
Provisions for doubtful trade receivables charged to the consolidated income statement | (59) | (89) | (47) |
Utilization of reversal of provisions for doubtful trade receivables | 13 | 12 | 39 |
Reversal of provisions for doubtful trade receivables | 53 | 53 | 61 |
Currency translation effects | (5) | 1 | 12 |
Provision for doubtful receivable at end of period | $ (93) | (95) | (126) |
Continuing operations [member] | Trade receivables [member] | Provision for doubtful receivable [member] | |||
Disclosure of provision matrix [line items] | |||
Provisions for doubtful trade receivables charged to the consolidated income statement | (89) | (30) | |
Reversal of provisions for doubtful trade receivables | 53 | 44 | |
Discontinued operations [member] | Trade receivables [member] | Provision for doubtful receivable [member] | |||
Disclosure of provision matrix [line items] | |||
Provision for doubtful receivable at beginning of period | $ 54 | ||
Provision for doubtful receivable at end of period | $ 54 |
Trade receivables (Details 3)
Trade receivables (Details 3) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Analysis of overdue amounts [line items] | ||
Total trade receivables, net | $ 8,217 | $ 8,301 |
Trade receivables [member] | ||
Analysis of overdue amounts [line items] | ||
Total trade receivables, net | 8,217 | 8,301 |
Trade receivables [member] | Current [member] | ||
Analysis of overdue amounts [line items] | ||
Total trade receivables, net | 7,714 | 7,763 |
Trade receivables [member] | Not later than one month [member] | ||
Analysis of overdue amounts [line items] | ||
Total trade receivables, net | 150 | 161 |
Trade receivables [member] | Later than one month and not later than three months [member] | ||
Analysis of overdue amounts [line items] | ||
Total trade receivables, net | 118 | 123 |
Trade receivables [member] | Later than three months and not later than six months [member] | ||
Analysis of overdue amounts [line items] | ||
Total trade receivables, net | 102 | 103 |
Trade receivables [member] | Later than six months and not later than one year [member] | ||
Analysis of overdue amounts [line items] | ||
Total trade receivables, net | 77 | 96 |
Trade receivables [member] | Later than one year [member] | ||
Analysis of overdue amounts [line items] | ||
Total trade receivables, net | $ 149 | $ 150 |
Trade receivables (Details 4)
Trade receivables (Details 4) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | $ 8,217 | $ 8,301 |
Trade receivables [member] | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 8,217 | 8,301 |
Trade receivables [member] | USD | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 3,311 | 3,466 |
Trade receivables [member] | EUR | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 1,668 | 1,384 |
Trade receivables [member] | JPY | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 437 | 466 |
Trade receivables [member] | CNY | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 208 | 279 |
Trade receivables [member] | RUB | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 288 | 341 |
Trade receivables [member] | BRL | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 148 | 165 |
Trade receivables [member] | GBP | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 191 | 202 |
Trade receivables [member] | AUD | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 153 | 125 |
Trade receivables [member] | CHF | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 124 | 89 |
Trade receivables [member] | CAD | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | 125 | 129 |
Trade receivables [member] | Others | ||
Disclosure of provision matrix [line items] | ||
Total trade receivables, net | $ 1,564 | $ 1,655 |
Trade receivables (Details 5)
Trade receivables (Details 5) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of provision matrix [line items] | ||
Current trade receivables from closely monitored countries | $ 1,505 | $ 1,588 |
Current trade receivables from closely monitored countries past due more than one year | 55 | 61 |
Current trade receivables from closely monitored countries past due more than one year, provisions recorded | $ 27 | $ 24 |
Marketable securities, commod_3
Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of marketable securities commodities deposits derivative instruments and cash [abstract] | ||
Marketable securities | $ 26 | $ 61 |
Commodities | 111 | 110 |
Time deposits with original maturity more than 90 days | 1,609 | 61 |
Derivative financial instruments | 159 | 102 |
Total marketable securities, commodities, time deposits and derivative financial instruments | $ 1,905 | $ 334 |
Marketable securities, commod_4
Marketable securities, commodities, time deposits, derivative financial instruments and cash and cash equivalents (Details 2) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Cash and cash equivalents [abstract] | ||||
Current accounts | $ 3,750 | $ 3,247 | ||
Time deposits and short term investments with original maturity less than 90 days | 5,908 | 7,865 | ||
Total cash and cash equivalents | $ 9,658 | $ 11,112 | $ 13,271 | $ 8,860 |
Other current assets (Details)
Other current assets (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Other current assets [abstract] | ||
VAT Receivable | $ 544 | $ 508 |
Withholding tax recoverable | 73 | 108 |
Prepaid expenses - third party | 943 | 898 |
Receivables associated companies | 1 | |
Other receivables and current assets | 963 | 1,165 |
Total other current assets | $ 2,523 | $ 2,680 |
Equity (Details)
Equity (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of classes of share capital [line items] | |||
Share capital at beginning of period | $ 936 | $ 944 | $ 969 |
Treasury shares at beginning of period | (80) | (69) | (100) |
Total outstanding share capital at beginning of period | 856 | 875 | 869 |
Share capital movement of period | (23) | (8) | (25) |
Treasury shares movement of period | 27 | (11) | 31 |
Total shares outstanding movement of period | 4 | (19) | 6 |
Share capital at end of period | 913 | 936 | 944 |
Treasury shares at end of period | (53) | (80) | (69) |
Total outstanding share capital at end of period | $ 860 | $ 856 | $ 875 |
Equity (Details 2)
Equity (Details 2) - CHF (SFr) shares in Millions, SFr in Billions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of classes of share capital [line items] | |||
Number of shares outstanding at beginning of period | 2,265 | 2,311.2 | 2,317.5 |
Treasury shares acquired to be cancelled | (32.6) | (60.3) | (23.3) |
Other share purchases | (1.7) | (1.7) | (1.2) |
Exercise of options and employee transactions shares | 14.7 | 5.5 | 7.8 |
Equity based compensation shares | 11 | 9.4 | 7.4 |
Shares delivered to divested business employees | 0.4 | 0.9 | |
Other share sales | 3 | ||
Total movements | (8.2) | (46.2) | (6.3) |
Number of shares outstanding at end of period | 2,256.8 | 2,265 | 2,311.2 |
Shares repurchased on the SIX Swiss Exchange second trading line under the share buyback authority approved | SFr 10 | SFr 10 | SFr 10 |
Total Novartis shares | |||
Disclosure of classes of share capital [line items] | |||
Number of shares issued at beginning of period | 2,527.3 | 2,550.6 | 2,616.8 |
Shares cancelled for capital reduction | (60.3) | (23.3) | (66.2) |
Total movements | (60.3) | (23.3) | (66.2) |
Number of shares issued at end of period | 2,467 | 2,527.3 | 2,550.6 |
Total treasury shares | |||
Disclosure of classes of share capital [line items] | |||
Number of treasury shares at beginning of period | (262.3) | (239.4) | (299.3) |
Shares cancelled for capital reduction | 60.3 | 23.3 | 66.2 |
Treasury shares acquired to be cancelled | (32.6) | (60.3) | (23.3) |
Other share purchases | (1.7) | (1.7) | (1.2) |
Exercise of options and employee transactions shares | 14.7 | 5.5 | 7.8 |
Equity based compensation shares | 11 | 9.4 | 7.4 |
Shares delivered to divested business employees | 0.4 | 0.9 | |
Other share sales | 3 | ||
Total movements | 52.1 | (22.9) | 59.9 |
Number of treasury shares at end of period | (210.2) | (262.3) | (239.4) |
Treasury shares with restricted use | 103 | 117.6 | 121.6 |
Equity (Details 3)
Equity (Details 3) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2020SFr / shares | Dec. 31, 2019SFr / shares | Dec. 31, 2018SFr / shares | |
Statement of changes in equity [abstract] | ||||||
Dividends payable, amount per share | SFr / shares | SFr 2.95 | SFr 2.85 | SFr 2.80 | |||
Dividends recognised as distributions to owners | $ | $ 6,987 | $ 6,645 | $ 6,966 |
Equity (Details 4)
Equity (Details 4) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of changes in equity [abstract] | |||
Treasury shares acquired to be cancelled | (32.6) | (60.3) | (23.3) |
Shares acquired for cancellation, equity impact | $ (2,897) | $ (5,351) | $ (1,859) |
Other share purchases | (1.7) | (1.7) | (1.2) |
Other share purchases, equity impact | $ (159) | $ (160) | $ (114) |
Purchase of treasury shares | (34.3) | (62) | (24.5) |
Purchase of treasury shares, equity impact | $ (3,056) | $ (5,511) | $ (1,973) |
Other share sales | 3 | ||
Other share sales, equity impact | $ 263 | ||
Exercise of options and employee transactions shares | 14.7 | 5.5 | 7.8 |
Exercise of options and employee transactions, equity impact | $ 806 | $ 210 | $ 434 |
Equity based compensation shares | 11 | 9.4 | 7.4 |
Equity-based compensation, equity impact | $ 730 | $ 833 | $ 756 |
Shares delivered to divested business employees | 0.4 | 0.9 | |
Shares delivered to divested business employees, equity impact | $ 30 | $ 18 | |
Total number of outstanding treasury shares | (8.2) | (46.2) | (6.3) |
Total equity impact of treasury share movements | $ (1,490) | $ (4,450) | $ (520) |
Equity (Details 5)
Equity (Details 5) $ / shares in Units, Pure in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)year$ / shares | Dec. 31, 2019USD ($)year$ / shares | Dec. 31, 2018USD ($)year$ / shares | |
Statement of changes in equity [abstract] | |||
(Increase)/decrease of treasury share repurchase obligation under a share buyback trading plan | $ (1,769) | $ 284 | $ (284) |
Transaction costs recorded in equity | (253) | (79) | |
Tax on transaction costs recorded in equity | 36 | $ 20 | |
Maximal amount of share buyback programm | $ 2,500 | $ 5,000 | |
Written call options held by market maker | 1 | 13 | 11 |
Written call options, contractual live | year | 10 | ||
Written call options, contractual live, remaining | year | 3 | 4 | 5 |
Written call options, weighted average exercise price | $ / shares | $ 60.09 | $ 63.90 | $ 62.70 |
Amount recorded in equity related to hyperinflation | $ 18 | $ 22 | $ 38 |
Number of options repurchased | (3.7) |
Non-current financial debt (Det
Non-current financial debt (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of components of non-current financial debts [abstract] | ||
Straight bonds | $ 28,298 | $ 22,167 |
Liabilities to banks and other institutions | 233 | 188 |
Total including current portion of non-current financial debt | 28,531 | 22,355 |
Less current portion of non-current financial debt | (2,272) | (2,002) |
Total non-current financial debts | $ 26,259 | $ 20,353 |
Average interest rate on loans received | 0.30% | 0.20% |
Ratio fixed rate financial debt to total financial debt | 79.00% | 82.00% |
Average interest rate on borrowings | 2.00% | 2.40% |
Non-current financial debt (D_2
Non-current financial debt (Details 2) € in Millions, SFr in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020USD ($) | Dec. 31, 2020EUR (€) | Dec. 31, 2020CHF (SFr) | Dec. 31, 2019USD ($) | |
Disclosure of detailed information about borrowings [line items] | ||||
Straight bonds | $ 28,298 | $ 22,167 | ||
4.4% USD 1 000 million bond 2010/2020 of Novartis Capital Corporation, New York United States, issued at 99.237% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 4.40% | 4.40% | 4.40% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,000 | |||
Borrowings, issuance year | 2010 | |||
Borrowings, maturity year | 2020 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 99.237% | |||
Straight bonds | 1,000 | |||
2.4% USD 1 500 million bond 2012/2022 of Novartis Capital Corporation, New York United States, issued at 99.225% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 2.40% | 2.40% | 2.40% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,500 | |||
Borrowings, issuance year | 2012 | |||
Borrowings, maturity year | 2022 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 99.225% | |||
Straight bonds | $ 1,497 | 1,495 | ||
3.7% USD 500 million bond 2012/2042 of Novartis Capital Corporation, New York United States, issued at 98.325% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 3.70% | 3.70% | 3.70% | |
Borrowings, original currency | USD | |||
Notional amount | $ 500 | |||
Borrowings, issuance year | 2012 | |||
Borrowings, maturity year | 2042 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 98.325% | |||
Straight bonds | $ 490 | 489 | ||
3.4% USD 2 150 million bond 2014/2024 of Novartis Capital Corporation, New York United States, issued at 99.287% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 3.40% | 3.40% | 3.40% | |
Borrowings, original currency | USD | |||
Notional amount | $ 2,150 | |||
Borrowings, issuance year | 2014 | |||
Borrowings, maturity year | 2024 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 99.287% | |||
Straight bonds | $ 2,142 | 2,139 | ||
4.4% USD 1 850 million bond 2014/2044 of Novartis Capital Corporation, New York United States, issued at 99.196% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 4.40% | 4.40% | 4.40% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,850 | |||
Borrowings, issuance year | 2014 | |||
Borrowings, maturity year | 2044 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 99.196% | |||
Straight bonds | $ 1,826 | 1,825 | ||
0.75% EUR 600 million bond 2014/2021 of Novartis Finance S.A. Luxembourg, Luxembourg, issued at 99.134% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 0.75% | 0.75% | 0.75% | |
Borrowings, original currency | EUR | |||
Notional amount | € | € 600 | |||
Borrowings, issuance year | 2014 | |||
Borrowings, maturity year | 2021 | |||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | |||
Borrowings, issue price | 99.134% | |||
Straight bonds | $ 737 | 670 | ||
1.625% EUR 600 million bond 2014/2026 of Novartis Finance S.A. Luxembourg, Luxembourg, issued at 99.697% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 1.625% | 1.625% | 1.625% | |
Borrowings, original currency | EUR | |||
Notional amount | € | € 600 | |||
Borrowings, issuance year | 2014 | |||
Borrowings, maturity year | 2026 | |||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | |||
Borrowings, issue price | 99.697% | |||
Straight bonds | $ 735 | 670 | ||
0.25% CHF 500 million bond 2015/2025 of Novartis AG Basel Switzerland, issued at 100.64% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 0.25% | 0.25% | 0.25% | |
Borrowings, original currency | CHF | |||
Notional amount | SFr | SFr 500 | |||
Borrowings, issuance year | 2015 | |||
Borrowings, maturity year | 2025 | |||
Borrowings, issuer | Novartis AG, Basel, Switzerland | |||
Borrowings, issue price | 100.64% | |||
Straight bonds | $ 568 | 517 | ||
0.625% CHF 550 million bond 2015/2029 of Novartis AG Basel Switzerland, issued at 100.502% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 0.625% | 0.625% | 0.625% | |
Borrowings, original currency | CHF | |||
Notional amount | SFr | SFr 550 | |||
Borrowings, issuance year | 2015 | |||
Borrowings, maturity year | 2029 | |||
Borrowings, issuer | Novartis AG, Basel, Switzerland | |||
Borrowings, issue price | 100.502% | |||
Straight bonds | $ 625 | 568 | ||
1.050% CHF 325 million bond 2015/2035 of Novartis AG Basel Switzerland, issued at 100.479% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 1.05% | 1.05% | 1.05% | |
Borrowings, original currency | CHF | |||
Notional amount | SFr | SFr 325 | |||
Borrowings, issuance year | 2015 | |||
Borrowings, maturity year | 2035 | |||
Borrowings, issuer | Novartis AG, Basel, Switzerland | |||
Borrowings, issue price | 100.479% | |||
Straight bonds | $ 369 | 336 | ||
3.0% USD 1 750 million bond 2015/2025 of Novartis Capital Corporation, New York United States, issued at 99.010% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 3.00% | 3.00% | 3.00% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,750 | |||
Borrowings, issuance year | 2015 | |||
Borrowings, maturity year | 2025 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 99.01% | |||
Straight bonds | $ 1,737 | 1,735 | ||
4.0% USD 1 250 million bond 2015/2045 of Novartis Capital Corporation, New York United States, issued at 98.029% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 4.00% | 4.00% | 4.00% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,250 | |||
Borrowings, issuance year | 2015 | |||
Borrowings, maturity year | 2045 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 98.029% | |||
Straight bonds | $ 1,220 | 1,219 | ||
0.125% EUR 1 250 million bond 2016/2023 of Novartis Finance S.A. Luxembourg, Luxembourg, issued at 99.127% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 0.125% | 0.125% | 0.125% | |
Borrowings, original currency | EUR | |||
Notional amount | € | € 1,250 | |||
Borrowings, issuance year | 2016 | |||
Borrowings, maturity year | 2023 | |||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | |||
Borrowings, issue price | 99.127% | |||
Straight bonds | $ 1,530 | 1,392 | ||
0.625% EUR 500 million bond 2016/2028 of Novartis Finance S.A. Luxembourg, Luxembourg, issued at 98.48% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 0.625% | 0.625% | 0.625% | |
Borrowings, original currency | EUR | |||
Notional amount | € | € 500 | |||
Borrowings, issuance year | 2016 | |||
Borrowings, maturity year | 2028 | |||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | |||
Borrowings, issue price | 98.48% | |||
Straight bonds | $ 607 | 553 | ||
1.800% USD 1'000 million 2017/2020 of Novartis Capital Corporation, New York, United States, issued at 99.609% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 1.80% | 1.80% | 1.80% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,000 | |||
Borrowings, issuance year | 2017 | |||
Borrowings, maturity year | 2020 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 99.609% | |||
Straight bonds | 1,000 | |||
2.400% USD 1'000 million 2017/2022 of Novartis Capital Corporation, New York, United States, issued at 99.449% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 2.40% | 2.40% | 2.40% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,000 | |||
Borrowings, issuance year | 2017 | |||
Borrowings, maturity year | 2022 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 99.449% | |||
Straight bonds | $ 998 | 996 | ||
3.100% USD 1'000 million 2017/2027 of Novartis Capital Corporation, New York, United States, issued at 99.109% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 3.10% | 3.10% | 3.10% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,000 | |||
Borrowings, issuance year | 2017 | |||
Borrowings, maturity year | 2027 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 99.109% | |||
Straight bonds | $ 992 | 990 | ||
0.000% EUR 1'250 million 2017/2021 of Novartis Finance S.A., Luxembourg, Luxembourg, issued at 99.133% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 0.00% | 0.00% | 0.00% | |
Borrowings, original currency | EUR | |||
Notional amount | € | € 1,250 | |||
Borrowings, issuance year | 2017 | |||
Borrowings, maturity year | 2021 | |||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | |||
Borrowings, issue price | 99.133% | |||
Straight bonds | $ 1,536 | 1,396 | ||
1.125% EUR 600 million 2017/2027 of Novartis Finance S.A., Luxembourg, Luxembourg, issued at 99.874% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 1.125% | 1.125% | 1.125% | |
Borrowings, original currency | EUR | |||
Notional amount | € | € 600 | |||
Borrowings, issuance year | 2017 | |||
Borrowings, maturity year | 2027 | |||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | |||
Borrowings, issue price | 99.874% | |||
Straight bonds | $ 735 | 670 | ||
0.500% EUR 750 million 2018/2023 of Novartis Finance S.A., Luxembourg, Luxembourg issued at 99.655% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 0.50% | 0.50% | 0.50% | |
Borrowings, original currency | EUR | |||
Notional amount | € | € 750 | |||
Borrowings, issuance year | 2018 | |||
Borrowings, maturity year | 2023 | |||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | |||
Borrowings, issue price | 99.655% | |||
Straight bonds | $ 919 | 837 | ||
1.375% EUR 750 million 2018/2030 of Novartis Finance S.A., Luxembourg, Luxembourg issued at 99.957% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 1.375% | 1.375% | 1.375% | |
Borrowings, original currency | EUR | |||
Notional amount | € | € 750 | |||
Borrowings, issuance year | 2018 | |||
Borrowings, maturity year | 2030 | |||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | |||
Borrowings, issue price | 99.957% | |||
Straight bonds | $ 920 | 838 | ||
1.700% EUR 750 million 2018/2038 of Novartis Finance S.A., Luxembourg, Luxembourg issued at 99.217% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 1.70% | 1.70% | 1.70% | |
Borrowings, original currency | EUR | |||
Notional amount | € | € 750 | |||
Borrowings, issuance year | 2018 | |||
Borrowings, maturity year | 2038 | |||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | |||
Borrowings, issue price | 99.217% | |||
Straight bonds | $ 913 | $ 832 | ||
1.750% USD 1 000 million 2020/2025 Novartis Capital Corporation, New York, United States, issued at 99.852% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 1.75% | 1.75% | 1.75% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,000 | |||
Borrowings, issuance year | 2020 | |||
Borrowings, maturity year | 2025 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 99.852% | |||
Straight bonds | $ 996 | |||
2.000% USD 1 250 million 2020/2027 Novartis Capital Corporation, New York, United States, issued at 99.909% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 2.00% | 2.00% | 2.00% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,250 | |||
Borrowings, issuance year | 2020 | |||
Borrowings, maturity year | 2027 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 99.909% | |||
Straight bonds | $ 1,245 | |||
2.200% USD 1 500 million 2020/2030 Novartis Capital Corporation, New York, United States, issued at 99.869% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 2.20% | 2.20% | 2.20% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,500 | |||
Borrowings, issuance year | 2020 | |||
Borrowings, maturity year | 2030 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 99.869% | |||
Straight bonds | $ 1,493 | |||
2.750% USD 1 250 million 2020/2050 Novartis Capital Corporation, New York, United States, issued at 97.712% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 2.75% | 2.75% | 2.75% | |
Borrowings, original currency | USD | |||
Notional amount | $ 1,250 | |||
Borrowings, issuance year | 2020 | |||
Borrowings, maturity year | 2050 | |||
Borrowings, issuer | Novartis Capital Corporation, New York, United States | |||
Borrowings, issue price | 97.712% | |||
Straight bonds | $ 1,213 | |||
0.000% 1 EUR 1 850 million 2020/2028 Novartis Finance S.A., Luxembourg, Luxembourg, issued at 99.354% [member] | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Borrowings, coupon | 0.00% | 0.00% | 0.00% | |
Borrowings, original currency | EUR | |||
Notional amount | € | € 1,850 | |||
Borrowings, issuance year | 2020 | |||
Borrowings, maturity year | 2028 | |||
Borrowings, issuer | Novartis Finance S.A., Luxembourg, Luxembourg | |||
Borrowings, issue price | 99.354% | |||
Straight bonds | $ 2,255 | |||
Borrowings interest rate step up | 0.25% | 0.25% | 0.25% |
Non-current financial debt (D_3
Non-current financial debt (Details 3) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | $ 28,531 | $ 22,355 |
Not later than one year [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 2,272 | 2,002 |
Later than one year and not later than two years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 2,631 | 2,067 |
Later than two years and not later than three years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 2,546 | 2,583 |
Later than three years and not later than four years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 2,142 | 2,321 |
Later than four years and not later than five years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 3,302 | 2,139 |
Later than five years and not later than six years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 2,252 | |
Later than five years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | $ 15,638 | |
Later than six years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | $ 8,991 |
Non-current financial debt (D_4
Non-current financial debt (Details 4) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | $ 28,531 | $ 22,355 |
USD | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 15,848 | 12,889 |
EUR | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 10,888 | 7,861 |
JPY | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 194 | 184 |
CHF | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | 1,563 | $ 1,421 |
Others | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Borrowings | $ 38 |
Non-current financial debt (D_5
Non-current financial debt (Details 5) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of fair value measurement of liabilities [line items] | ||
Straight bonds | $ 28,298 | $ 22,167 |
Total | 28,531 | 22,355 |
Balance sheet | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Straight bonds | 28,298 | 22,167 |
Others | 233 | 188 |
Total | 28,531 | 22,355 |
Fair values | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Straight bonds | 31,359 | 23,701 |
Others | 233 | 188 |
Total | $ 31,592 | $ 23,889 |
Provisions and other non-curr_3
Provisions and other non-current liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of other provisions [line items] | |||
Defined benefit pension plans | $ 3,538 | $ 3,469 | |
Other long-term employee benefits and deferred compensation | 637 | 546 | |
Other post-employment benefits | 543 | 612 | |
Environmental remediation provisions | 642 | 592 | $ 634 |
Product liability, government investigations, other legal matters provisions | 181 | 200 | $ 214 |
Contingent consideration | 984 | 958 | |
Other non-current liabilities | 409 | 255 | |
Total provisions and other non-current liabilities | $ 6,934 | $ 6,632 |
Provisions and other non-curr_4
Provisions and other non-current liabilities (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Environmental provision [roll forward] | |||
Environmental liabilities provision at beginning of period | $ 714 | $ 692 | $ 761 |
Cash payments | (10) | (30) | (48) |
Releases | (27) | (83) | (21) |
Additions | 82 | 124 | 7 |
Currency translation effects | 50 | 11 | (7) |
Environmental liabilities provision at end of period | 809 | 714 | 692 |
Less current provision | (167) | (122) | (58) |
Non-current environmental remediation provisions at end of period | $ 642 | $ 592 | 634 |
Continuing operations [member] | |||
Environmental provision [roll forward] | |||
Releases | (21) | ||
Additions | $ 7 |
Provisions and other non-curr_5
Provisions and other non-current liabilities (Details 3) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Environmental provision, fiscal year maturity [abstract] | ||||
Due within two years | $ 181 | |||
Due later than two years, but within five years | 210 | |||
Due later than five years, but within ten years | 338 | |||
Due after ten years | 80 | |||
Total environmental remediation liability provisions | $ 809 | $ 714 | $ 692 | $ 761 |
Provisions and other non-curr_6
Provisions and other non-current liabilities (Details 4) € in Millions, ¥ in Millions, $ in Millions | Dec. 31, 2020USD ($) | Dec. 31, 2020EUR (€) | Dec. 31, 2020JPY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Disclosure of other provisions [line items] | |||||
Product liability contingency, loss exposure not accrued, number of cases | 3,000 | 3,000 | 3,000 | ||
Product liability, government investigations, other legal matters provisions | $ 181 | $ 200 | $ 214 | ||
Product liability contingency, loss exposure not accrued, best estimate | 500 | ||||
Italy | Lucentis [member] | |||||
Disclosure of other provisions [line items] | |||||
Estimated financial effect of contingent liabilities, maximum fine | 1,300 | ||||
Estimated financial effect of contingent liabilities, damages claimed | 330 | ||||
Italy | NAG and Novartis Pharma SpA [member] | Lucentis [member] | |||||
Disclosure of other provisions [line items] | |||||
Estimated financial effect of contingent liabilities | 125 | ||||
Japan | Novartis Pharma K.K. [member] | |||||
Disclosure of other provisions [line items] | |||||
Estimated financial effect of contingent liabilities, maximum fine | ¥ | ¥ 4 | ||||
US | |||||
Disclosure of other provisions [line items] | |||||
Amount of settlement in principle | 300 | ||||
US | Sandoz [member] | |||||
Disclosure of other provisions [line items] | |||||
Product liability, government investigations, other legal matters provisions | $ 187 | ||||
Description of nature of obligation contingent liabilities, number of states with alleged violations | 54 | 54 | 54 | ||
Amount of settlement in principle | $ 195 | ||||
US | Sandoz [member] | Enoxaparin [member] | |||||
Disclosure of other provisions [line items] | |||||
Description of nature of obligation contingent liabilities, number of putative cases referred to court | 1 | ||||
US | Sandoz [member] | Enoxaparin [member] | Tennessee class action [member] | |||||
Disclosure of other provisions [line items] | |||||
Amount of settlement in principle | $ 85 | ||||
US | Sandoz [member] | Taxotere [member] | |||||
Disclosure of other provisions [line items] | |||||
Product liability contingency, loss exposure not accrued, number of cases | 3,000 | 3,000 | 3,000 | ||
US | Sandoz [member] | Amiodarone [member] | |||||
Disclosure of other provisions [line items] | |||||
Product liability contingency, loss exposure not accrued, number of cases | 5 | 5 | 5 | ||
US | NPC and others [member] | |||||
Disclosure of other provisions [line items] | |||||
Amount of settlement in principle | $ 700 | ||||
US | NPC and others [member] | Reclast/Aclasta [member] | |||||
Disclosure of other provisions [line items] | |||||
Product liability contingency, loss exposure not accrued, number of cases | 20 | 20 | 20 | ||
US | NPC and others [member] | Tasigna [member] | |||||
Disclosure of other provisions [line items] | |||||
Product liability contingency, loss exposure not accrued, number of cases | 80 | 80 | 80 | ||
FRANCE | F Hoffman La Roche AG and Roche SpA [member] | |||||
Disclosure of other provisions [line items] | |||||
Estimated financial effect of contingent liabilities, maximum fine | $ 452 | € 385 |
Provisions and other non-curr_7
Provisions and other non-current liabilities (Details 5) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Product liability, government investigations, other legal matters provisions [roll forward] | |||
Product liabilities government investigations other legal matters provisions at beginning of period | $ 1,369 | $ 340 | $ 351 |
Provisions related to discontinued operations | (42) | ||
Impact of business combinations | 11 | 10 | |
Cash payments | (1,863) | (116) | (118) |
Releases | (31) | (52) | (107) |
Additions | 1,018 | 1,230 | 220 |
Currency translation effects | (17) | (1) | (6) |
Product liabilities government investigations other legal matters provisions at end of period | 487 | 1,369 | 340 |
Less current provision | (306) | (1,169) | (126) |
Non-current product liabilities, governmental investigations and other legal matters provisions at end of period | $ 181 | $ 200 | 214 |
Continuing operations [member] | |||
Product liability, government investigations, other legal matters provisions [roll forward] | |||
Releases | (107) | ||
Additions | $ 220 |
Current financial debt and de_3
Current financial debt and derivative financial instruments (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of current financial debt and derivative instruments [abstract] | ||
Interest bearning accounts of associates payable on demand | $ 2,085 | $ 1,836 |
Bank and other financial debt | 976 | 719 |
Commercial Papers | 4,258 | 2,289 |
Current portion of non-current financial debt | 2,272 | 2,002 |
Fair value of derivative financial instruments | 194 | 185 |
Total current financial debt and derivative financial instruments | $ 9,785 | $ 7,031 |
Weighted average interest rate, associates | 0.40% | 0.50% |
Weighted average interest rate on Bank and other financial debt | 5.00% | 12.90% |
Provisions and other current _3
Provisions and other current liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of provisions and other current liabilities [abstract] | ||||
Taxes other than income taxes | $ 749 | $ 471 | ||
Restructuring provisions | 459 | 438 | ||
Accrued expenses for goods and services received but not invoiced | 1,167 | 1,046 | ||
Accruals for royalties | 732 | 653 | ||
Accrued interests on financial debt | 133 | 98 | ||
Provisions for deductions from revenue | 6,256 | 5,595 | $ 5,262 | $ 4,672 |
Accurals for compensation and benefits including social security | 2,286 | 2,464 | ||
Environmental remediation liabilities | 167 | 122 | 58 | |
Deferred income | 56 | 114 | ||
Provisions for product liabilities, governmental investigations and other legal matters | 306 | 1,169 | 126 | |
Accrued share-based payments | 269 | 326 | $ 273 | |
Contingent considerations | 62 | 78 | ||
Commitment for repurchase own shares | 1,769 | |||
Other payables | 716 | 764 | ||
Total provisions and other current liabilities | $ 15,127 | $ 13,338 |
Provisions and other current _4
Provisions and other current liabilities (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Provisions for deductions from revenue [roll forward] | |||
Provisions for deductions from revenue, at beginning of period | $ 5,595 | $ 5,262 | $ 4,672 |
Effects of currency translation and business combinations | 234 | (10) | (129) |
Payments/utilizations | (19,294) | (19,348) | (18,567) |
Additions prior year | (151) | (220) | (98) |
Additions current year | 19,773 | 20,001 | 19,052 |
Changes in offset against gross trade receivables | 99 | 104 | 332 |
Provisions for deductions from revenue, at end of period | 6,256 | 5,595 | 5,262 |
US-specific healthcare plans and program rebates [member] | |||
Provisions for deductions from revenue [roll forward] | |||
Provisions for deductions from revenue, at beginning of period | 1,981 | 1,883 | 1,590 |
Payments/utilizations | (5,560) | (5,183) | (4,158) |
Additions prior year | (107) | (193) | (90) |
Additions current year | 5,739 | 5,474 | 4,541 |
Provisions for deductions from revenue, at end of period | 2,053 | 1,981 | 1,883 |
Non-US-specific healthcare plans and program rebates [member] | |||
Provisions for deductions from revenue [roll forward] | |||
Provisions for deductions from revenue, at beginning of period | 1,769 | 1,625 | 1,356 |
Effects of currency translation and business combinations | 167 | (19) | (78) |
Payments/utilizations | (2,597) | (2,467) | (2,182) |
Additions prior year | 7 | (2) | 83 |
Additions current year | 2,940 | 2,659 | 2,555 |
Changes in offset against gross trade receivables | (14) | 1 | (109) |
Provisions for deductions from revenue, at end of period | 2,272 | 1,769 | 1,625 |
Non-healthcare plans and program-related rebates, returns and other deductions [member] | |||
Provisions for deductions from revenue [roll forward] | |||
Provisions for deductions from revenue, at beginning of period | 1,845 | 1,754 | 1,726 |
Effects of currency translation and business combinations | 67 | 9 | (51) |
Payments/utilizations | (11,137) | (11,698) | (12,227) |
Additions prior year | (51) | (25) | (91) |
Additions current year | 11,094 | 11,868 | 11,956 |
Changes in offset against gross trade receivables | 113 | 103 | 441 |
Provisions for deductions from revenue, at end of period | $ 1,931 | 1,845 | 1,754 |
Continuing operations [member] | |||
Provisions for deductions from revenue [roll forward] | |||
Additions current year | 18,248 | ||
Discontinued operations [member] | |||
Provisions for deductions from revenue [roll forward] | |||
Provisions for deductions from revenue, discontinued operations, at beginning of period | (194) | ||
Provisions for deductions from revenue, discontinued operations, at end of period | (194) | ||
Discontinued operations [member] | US-specific healthcare plans and program rebates [member] | |||
Provisions for deductions from revenue [roll forward] | |||
Provisions for deductions from revenue, discontinued operations, at beginning of period | 0 | ||
Provisions for deductions from revenue, discontinued operations, at end of period | 0 | ||
Discontinued operations [member] | Non-US-specific healthcare plans and program rebates [member] | |||
Provisions for deductions from revenue [roll forward] | |||
Provisions for deductions from revenue, discontinued operations, at beginning of period | (28) | ||
Provisions for deductions from revenue, discontinued operations, at end of period | (28) | ||
Discontinued operations [member] | Non-healthcare plans and program-related rebates, returns and other deductions [member] | |||
Provisions for deductions from revenue [roll forward] | |||
Provisions for deductions from revenue, discontinued operations, at beginning of period | $ (166) | ||
Provisions for deductions from revenue, discontinued operations, at end of period | $ (166) |
Provisions and other current _5
Provisions and other current liabilities (Details 3) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Restructuring provisions movements [roll forward] | |||
Cash payments | $ (19,294) | $ (19,348) | $ (18,567) |
Restructuring provision | |||
Restructuring provisions movements [roll forward] | |||
Provision at beginning of period | 438 | 507 | 153 |
Provisions related to discontinued operations | (8) | ||
Additions | 354 | 492 | 534 |
Cash payments | (268) | (479) | (145) |
Releases | (87) | (72) | (33) |
Currency translation effects | 22 | (2) | (2) |
Provision at end of period | $ 459 | $ 438 | 507 |
Restructuring provision | Continuing operations [member] | |||
Restructuring provisions movements [roll forward] | |||
Additions | 521 | ||
Releases | $ (31) |
Details to the consolidated cas
Details to the consolidated cash flow statements (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |||
Change in provisions and other non-current liabilities | $ 1,411 | $ 1,871 | $ 895 |
Gains on disposal and other adjustments on property, plant and equipment; intangible assets;financial assets; and other non-current assets, net | (478) | (1,234) | (902) |
Equity-settled compensation expense | 738 | 758 | 673 |
Income from associated companies | (673) | (659) | (6,438) |
Taxes | 1,807 | 1,793 | 1,295 |
Net financial expense | 947 | 805 | 746 |
Total | 9,881 | 9,122 | 1,486 |
Property, plant and equipment | |||
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |||
Adjustments for depreciation and amortisation expense and impairment loss (reversal of impairment loss) recognised in profit or loss | 1,758 | 1,547 | 1,783 |
Right-of-use assets [member] | |||
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |||
Adjustments for depreciation and amortisation expense and impairment loss (reversal of impairment loss) recognised in profit or loss | 330 | 305 | |
Intangible assets | |||
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |||
Adjustments for depreciation and amortisation expense and impairment loss (reversal of impairment loss) recognised in profit or loss | 4,376 | 3,974 | 3,428 |
Financial assets impaired [member] | |||
Depreciation, amortisation and impairment loss (reversal of impairment loss) recognised in profit or loss [abstract] | |||
Adjustments for depreciation and amortisation expense and impairment loss (reversal of impairment loss) recognised in profit or loss | $ (335) | $ (38) | $ 6 |
Details to the consolidated c_2
Details to the consolidated cash flow statements (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Income taxes paid (refund) | $ 1,921 | $ 1,993 | $ 1,809 |
Income taxes paid (refund), classified as investing activities | 139 | ||
Income taxes paid (refund), classified as operating activities | 1,833 | 1,876 | 1,506 |
Discontinued operations | |||
Statement [line items] | |||
Income taxes paid (refund), classified as investing activities | $ 88 | 79 | |
Income taxes paid (refund), classified as operating activities | $ 38 | $ 164 |
Details to the consolidated c_3
Details to the consolidated cash flow statements (Details 3) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
(Increase) in inventories | $ (543) | $ (382) | $ (387) |
Decrease/(Increase) in trade receivables | 137 | (980) | (544) |
(Decrease)/increase in trade payables | (324) | 553 | 252 |
Change in other current assets | 229 | (160) | 316 |
Change in other current liabilities | 211 | 1,167 | 941 |
Other adjustments, net | (1) | 1 | (2) |
Total | $ (291) | $ 199 | $ 576 |
Details to the consolidated c_4
Details to the consolidated cash flow statements (Details 4) - GSK Consumer Healthcare $ in Millions | Mar. 27, 2018USD ($) |
Statement [line items] | |
Acquisitions and divestments of interests in associated companies, net | $ 12,855 |
Proceeds from disposal of non-current assets or disposal groups classified as held for sale and discontinued operations | $ 12,994 |
Details to the consolidated c_5
Details to the consolidated cash flow statements (Details 5) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Net cash flows | $ (9,957) | $ (3,760) | $ (13,683) |
Acquisitions | |||
Statement [line items] | |||
Net assets recognized as a result of acquistions of businesses | (10,173) | (4,124) | (13,660) |
Fair value of previously held equity interests | 7 | 33 | |
Contingent consideration payables, net | 98 | 242 | (5) |
Payments, deferred consideration and other adjustments, net | 62 | (2) | (36) |
Net cash flows | (10,006) | (3,851) | (13,701) |
Divestments | |||
Statement [line items] | |||
Net cash flows | $ 49 | 91 | $ 18 |
Net cash inflows from divestment | 95 | ||
Net cash outflows from divestments | 4 | ||
Current assets divested | 96 | ||
Cash and cash equivalents in subsidiary or businesses acquired or disposed | 11 | ||
Divested business | 196 | ||
Divestments | Non-current assets [member] | |||
Statement [line items] | |||
Divested business | 159 | ||
Divestments | Current liabilities [member] | |||
Statement [line items] | |||
Liabilities in subsidiary or businesses acquired or disposed | 41 | ||
Divestments | Non-current liabilities [member] | |||
Statement [line items] | |||
Liabilities in subsidiary or businesses acquired or disposed | $ 18 |
Details to the consolidated c_6
Details to the consolidated cash flow statements (Details 6) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Apr. 08, 2019 | Jan. 01, 2019 | |
Statement [line items] | |||||
Financial debts and derivative instruments at beginning of period | $ 27,384 | $ 28,532 | |||
Impact of adoption of IFRS 16 Leases | 2,005 | $ 1,949 | $ 1,736 | ||
Increase in non-current financial debts | 7,126 | 93 | 2,856 | ||
Repayments of non-current financial debts | (2,003) | (3,195) | (366) | ||
Change in current financial debts | 2,261 | (1,582) | 1,687 | ||
Payments of lease liabilities, net | (312) | (273) | |||
Impact of business combinations and divestments | 14 | ||||
Changes in fair values, and other changes, net | (43) | ||||
Amortization of bonds discount | 29 | ||||
Currency translation effects | (555) | ||||
Financial debts and derivative instruments at end of period | 36,044 | 27,384 | |||
Non-current financial debts [member] | |||||
Statement [line items] | |||||
Financial debts and derivative instruments at beginning of period | 20,353 | 22,470 | 23,224 | ||
Increase in non-current financial debts | 7,126 | 93 | 2,856 | ||
Impact of business combinations and divestments | 10 | ||||
Changes in fair values, and other changes, net | (1) | 5 | |||
Amortization of bonds discount | 16 | 25 | 27 | ||
Currency translation effects | 832 | (141) | (462) | ||
Reclassification from non-current to current, net | (2,067) | (2,003) | |||
Current portion of non-current financial debt | (3,190) | ||||
Financial debts and derivative instruments at end of period | 26,259 | 20,353 | 22,470 | ||
Current financial debts and derivative financial instruments [member] | |||||
Statement [line items] | |||||
Financial debts and derivative instruments at beginning of period | 7,031 | 9,678 | 5,308 | ||
Repayments of non-current financial debts | (2,003) | (3,195) | (366) | ||
Change in current financial debts | 2,261 | (1,582) | 1,681 | ||
Impact of business combinations and divestments | 32 | 2 | 4 | ||
Changes in fair values, and other changes, net | 129 | (48) | |||
Amortization of bonds discount | 5 | 2 | |||
Currency translation effects | 392 | 44 | (93) | ||
Reclassification from non-current to current, net | 2,067 | 2,003 | |||
Current portion of non-current financial debt | 3,190 | ||||
Financial debts and derivative instruments at end of period | 9,785 | 7,031 | 9,678 | ||
Non-current lease liabilities [member] | |||||
Statement [line items] | |||||
Financial debts and derivative instruments at beginning of period | 1,703 | ||||
New leases | 221 | 362 | |||
Impact of business combinations and divestments | 36 | (11) | |||
Changes in fair values, and other changes, net | (30) | 33 | |||
Currency translation effects | 39 | 4 | |||
Reclassification from non-current to current, net | (250) | (156) | |||
Financial debts and derivative instruments at end of period | 1,719 | 1,703 | |||
Current lease liabilities [member] | |||||
Statement [line items] | |||||
Financial debts and derivative instruments at beginning of period | 246 | ||||
Payments of lease liabilities, net | (312) | (273) | |||
Interest payments for amounts included in lease liabilities classified as cash flows from operating activities | (56) | (51) | |||
New leases | 73 | 131 | |||
Impact of business combinations and divestments | 8 | (6) | |||
Changes in fair values, and other changes, net | 65 | 20 | |||
Currency translation effects | 12 | 1 | |||
Reclassification from non-current to current, net | 250 | 156 | |||
Financial debts and derivative instruments at end of period | $ 286 | 246 | |||
Continuing operations | |||||
Statement [line items] | |||||
Change in current financial debts | $ 1,687 | ||||
Continuing operations | Non-current financial debts [member] | |||||
Statement [line items] | |||||
Lease liabilities, impact of adoption of IFRS 16 | (2) | ||||
Continuing operations | Current financial debts and derivative financial instruments [member] | |||||
Statement [line items] | |||||
Lease liabilities, impact of adoption of IFRS 16 | (1) | ||||
Continuing operations | Non-current lease liabilities [member] | |||||
Statement [line items] | |||||
Lease liabilities, impact of adoption of IFRS 16 | 1,471 | ||||
Continuing operations | Current lease liabilities [member] | |||||
Statement [line items] | |||||
Lease liabilities, impact of adoption of IFRS 16 | 268 | ||||
Discontinued operations | |||||
Statement [line items] | |||||
Impact of adoption of IFRS 16 Leases | $ 269 | 286 | |||
Discontinued operations | Non-current financial debts [member] | |||||
Statement [line items] | |||||
Lease liabilities, impact of adoption of IFRS 16 | (89) | ||||
Discontinued operations | Current financial debts and derivative financial instruments [member] | |||||
Statement [line items] | |||||
Financial debts and lease liabilities related to discontinued operations | (47) | ||||
Discontinued operations | Non-current lease liabilities [member] | |||||
Statement [line items] | |||||
Lease liabilities, impact of adoption of IFRS 16 | 246 | ||||
Financial debts and lease liabilities related to discontinued operations | (246) | ||||
Discontinued operations | Current lease liabilities [member] | |||||
Statement [line items] | |||||
Lease liabilities, impact of adoption of IFRS 16 | $ 40 | ||||
Financial debts and lease liabilities related to discontinued operations | $ (40) |
Acquisitions of businesses (Det
Acquisitions of businesses (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Amounts recognised as of acquisition date for each major class of assets acquired and liabilities assumed [line items] | |||
Property, plant and equipment | $ 26 | $ 44 | $ 137 |
Right-of-use assets | 32 | ||
Currently marketed products | 196 | 3,550 | 2,531 |
Acquired research and development | 8,600 | 342 | 10,224 |
Other intangible assets | 218 | 22 | 1 |
Deferred tax assets | 476 | 60 | 381 |
Non-current financial and other assets | 49 | 8 | 19 |
Inventories | 84 | 195 | 20 |
Trade receivables and financial and other current assets | 109 | 4 | 90 |
Cash and cash equivalents | 76 | 1,112 | |
Deferred tax liabilities | (1,977) | (107) | (2,874) |
Current and non-current financial debts | (32) | (2) | (14) |
Current and non-current lease liabilities | (44) | ||
Trade payables and other liabilities | (144) | (178) | (627) |
Net identifiable assets acquired | 7,669 | 3,938 | 11,000 |
Acquired cash and cash equivalents | (76) | (1,112) | |
Non-controlling interests | (26) | ||
Goodwill | 2,580 | 186 | 4,084 |
Net assets recognized as a result of acquisitions of business | 10,173 | 4,124 | 13,946 |
Goodwill expected to be deductible for tax purposes | $ 74 | $ 98 | $ 0 |
Post-employment benefits for _3
Post-employment benefits for associates (Details) - 12 months ended Dec. 31, 2020 SFr in Millions, $ in Millions | USD ($) | CHF (SFr) |
Disclosure of defined benefit plans [line items] | ||
Concentration of major plans, geographic | The major plans are based in Switzerland, the United States, the United Kingdom, Germany and Japan, which represent 95% of the Group’s total DBO for pension plans. | The major plans are based in Switzerland, the United States, the United Kingdom, Germany and Japan, which represent 95% of the Group’s total DBO for pension plans. |
Major plans percentage in group DBO pensions | 95.00% | 95.00% |
Most signigicant countries percentage on group DBO post employment benefit plans | 81.00% | 81.00% |
Net Pre-tax curtailment gain (loss) | $ 101 | SFr 90 |
Post-employment benefits for _4
Post-employment benefits for associates (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Pension plans | |||
Defined benefit plan, change in benefit obligation [roll forward] | |||
Benefit obligation at beginning of period | $ 23,066 | $ 22,179 | |
Current service cost | 372 | 336 | |
Interest cost | 222 | 330 | |
Past service cost and settlements | (102) | (168) | |
Administrative expenses | 24 | 24 | |
Remeasurement losses/(gains) arising from changes in financial assumptions | 1,166 | 1,791 | |
Remeasurement (gains) arising from changes in demographic assumptions | (28) | (193) | |
Experience-related remeasurement losses/(gains) | 159 | 184 | |
Currency translation effects | 1,810 | 283 | |
Benefit payments | (1,264) | (1,256) | |
Contributions of associates | 186 | 169 | |
Effect of acquisitions, divestments or transfers | (9) | 49 | |
Benefit obligation at end of period | 25,602 | 23,066 | |
Defined benefit plan, change in fair value of plan assets [roll forward] | |||
Fair value of plan assets at beginning of period | 19,810 | 18,838 | |
Interest income | 166 | 257 | |
Return on plan assets excluding interest income | 1,318 | 1,656 | |
Currency translation effects | 1,620 | 304 | |
Novartis Group contributions | 464 | 420 | |
Contributions of associates | 186 | 169 | |
Settlements | 15 | (193) | |
Benefit payments | (1,264) | (1,256) | |
Effect of acquisitions, divestments or transfers | 2 | 39 | |
Fair value of plan assets at end of period | 22,317 | 19,810 | |
Funded status | (3,285) | (3,256) | |
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward] | |||
Limitation on recognition of fund surplus at beginning of period | (65) | (68) | |
Change in limitation on recognition of fund surplus (incl. exchange rate differences) | 16 | 7 | |
Interest income on limitation of fund surplus | (2) | (4) | |
Limitation on recognition of fund surplus at end of period | (51) | (65) | |
Net liability in the balance sheet at end of period | (3,336) | (3,321) | $ (3,409) |
Other post-employment benefit plans | |||
Defined benefit plan, change in benefit obligation [roll forward] | |||
Benefit obligation at beginning of period | 746 | 1,073 | |
Current service cost | 11 | 13 | |
Interest cost | 20 | 29 | |
Past service cost and settlements | 1 | ||
Remeasurement losses/(gains) arising from changes in financial assumptions | 40 | 76 | |
Remeasurement (gains) arising from changes in demographic assumptions | (13) | (9) | |
Experience-related remeasurement losses/(gains) | (132) | (22) | |
Currency translation effects | (7) | ||
Benefit payments | (33) | (30) | |
Effect of acquisitions, divestments or transfers | (1) | 1 | |
Benefit obligation at end of period | 632 | 746 | |
Defined benefit plan, change in fair value of plan assets [roll forward] | |||
Fair value of plan assets at beginning of period | 134 | 119 | |
Interest income | 4 | 3 | |
Return on plan assets excluding interest income | 4 | 10 | |
Novartis Group contributions | 74 | ||
Novartis Group contributions | (20) | ||
Contributions of associates | 0 | ||
Benefit payments | (33) | (30) | |
Effect of acquisitions, divestments or transfers | (2) | ||
Fair value of plan assets at end of period | 89 | 134 | |
Funded status | (543) | (612) | |
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward] | |||
Net liability in the balance sheet at end of period | $ (543) | (612) | (954) |
Discontinued operations [member] | Pension plans | |||
Defined benefit plan, change in benefit obligation [roll forward] | |||
Benefit obligation, Discontinued operations at beginning of period | (662) | ||
Defined benefit plan, change in fair value of plan assets [roll forward] | |||
Fair value of plan assets at beginning of period | (424) | ||
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward] | |||
Net liability in the balance sheet at end of period | 0 | 238 | |
Discontinued operations [member] | Other post-employment benefit plans | |||
Defined benefit plan, change in benefit obligation [roll forward] | |||
Benefit obligation, Discontinued operations at beginning of period | (385) | ||
Defined benefit plan, change in fair value of plan assets [roll forward] | |||
Fair value of plan assets at beginning of period | (40) | ||
Defined benefit plan, change in limitation on recognition of fund surplus [roll forward] | |||
Net liability in the balance sheet at end of period | $ 0 | $ 345 |
Post-employment benefits for _5
Post-employment benefits for associates (Details 3) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Amounts recognized in the consolidated balance sheet [abstract] | ||
Prepaid benefit cost | $ 202 | $ 148 |
Pension plans | ||
Defined benefit plan, change in net liability [roll forward] | ||
Net liability at beginning of period | (3,321) | (3,409) |
Current service cost | (372) | (336) |
Net interest expense | (58) | (77) |
Administrative expenses | (24) | (24) |
Past service cost and settlements | 117 | (25) |
Remeasurements | 21 | (126) |
Currency translation effects | (190) | 21 |
Novartis Group contributions | 464 | 420 |
Effect of acquisitions, divestments or transfers | 11 | (10) |
Change in limitation on recognition of fund surplus (incl. exchange rate differences) | 16 | 7 |
Net liability at end of period | (3,336) | (3,321) |
Amounts recognized in the consolidated balance sheet [abstract] | ||
Prepaid benefit cost | 202 | 148 |
Accrued benefit liability | (3,538) | (3,469) |
Other post-employment benefit plans | ||
Defined benefit plan, change in net liability [roll forward] | ||
Net liability at beginning of period | (612) | (954) |
Current service cost | (11) | (13) |
Net interest expense | (16) | (26) |
Past service cost and settlements | (1) | 0 |
Remeasurements | 109 | (35) |
Currency translation effects | 7 | 0 |
Novartis Group contributions | 74 | |
Novartis Group contributions | (20) | |
Effect of acquisitions, divestments or transfers | 1 | (3) |
Net liability at end of period | (543) | (612) |
Amounts recognized in the consolidated balance sheet [abstract] | ||
Accrued benefit liability | (543) | (612) |
Discontinued operations [member] | Pension plans | ||
Defined benefit plan, change in net liability [roll forward] | ||
Net liability at beginning of period | 0 | 238 |
Net liability at end of period | 0 | |
Discontinued operations [member] | Other post-employment benefit plans | ||
Defined benefit plan, change in net liability [roll forward] | ||
Net liability at beginning of period | $ 0 | 345 |
Net liability at end of period | $ 0 |
Post-employment benefits for _6
Post-employment benefits for associates (Details 4) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Pension plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | $ 25,602 | $ 23,066 | $ 22,179 |
Plan assets, at fair value | 22,317 | 19,810 | 18,838 |
Funded status | 3,285 | 3,256 | |
Pension plans | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 1,217 | 1,136 | |
Pension plans | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 9,075 | 8,197 | |
Pension plans | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 3,109 | 2,722 | |
Pension plans | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 13,418 | 12,147 | |
Pension plans | Switzerland | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 16,807 | 15,106 | |
Plan assets, at fair value | 16,396 | 14,457 | |
Funded status | (411) | (649) | |
Pension plans | Switzerland | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 6,837 | 6,167 | |
Pension plans | Switzerland | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 9,970 | 8,939 | |
Pension plans | US | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 3,788 | 3,552 | |
Plan assets, at fair value | 2,487 | 2,311 | |
Funded status | (1,301) | (1,241) | |
Pension plans | US | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 701 | 670 | |
Pension plans | US | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 665 | 630 | |
Pension plans | US | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 1,290 | 1,205 | |
Pension plans | US | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 1,833 | 1,717 | |
Pension plans | Rest of the world | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 5,007 | 4,408 | |
Plan assets, at fair value | 3,434 | 3,042 | |
Funded status | (1,573) | (1,366) | |
Pension plans | Rest of the world | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 516 | 466 | |
Pension plans | Rest of the world | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 1,573 | 1,400 | |
Pension plans | Rest of the world | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 1,819 | 1,517 | |
Pension plans | Rest of the world | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 1,615 | 1,491 | |
Other post-employment benefit plans | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 632 | 746 | 1,073 |
Plan assets, at fair value | 89 | 134 | $ 119 |
Funded status | 543 | 612 | |
Other post-employment benefit plans | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 543 | 612 | |
Other post-employment benefit plans | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 105 | 157 | |
Other post-employment benefit plans | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 17 | 15 | |
Other post-employment benefit plans | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 510 | 574 | |
Other post-employment benefit plans | US | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 543 | 658 | |
Plan assets, at fair value | 89 | 134 | |
Funded status | (454) | (524) | |
Other post-employment benefit plans | US | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 454 | 524 | |
Other post-employment benefit plans | US | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 80 | 121 | |
Other post-employment benefit plans | US | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 17 | 15 | |
Other post-employment benefit plans | US | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 446 | 522 | |
Other post-employment benefit plans | Rest of the world | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 89 | 88 | |
Plan assets, at fair value | 0 | 0 | |
Funded status | (89) | (88) | |
Other post-employment benefit plans | Rest of the world | Unfunded | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 89 | 88 | |
Other post-employment benefit plans | Rest of the world | Active | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 25 | 36 | |
Other post-employment benefit plans | Rest of the world | Deferred pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | 0 | 0 | |
Other post-employment benefit plans | Rest of the world | Pensioners | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Defined benefit obligation, at present value | $ 64 | $ 52 |
Post-employment benefits for _7
Post-employment benefits for associates (Details 5) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Pension plans | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 0.60% | 1.00% | 1.60% |
Expected rate of pension increase | 0.30% | 0.30% | 0.40% |
Expected rate of salary increase | 2.70% | 2.80% | 2.80% |
Interest on savings account | 0.10% | 0.30% | 0.80% |
Current life expectancy for a 65-year-old male | 22 years | 22 years | 22 years |
Current life expectancy for a 65-year-old female | 24 years | 24 years | 24 years |
Other post-employment benefit plans | |||
Disclosure of defined benefit plans [line items] | |||
Discount rate | 2.90% | 3.60% | 4.40% |
Current life expectancy for a 65-year-old male | 21 years | 21 years | 21 years |
Current life expectancy for a 65-year-old female | 23 years | 23 years | 23 years |
Post-employment benefits for _8
Post-employment benefits for associates (Details 6) $ in Millions | Dec. 31, 2020USD ($) |
Discount rate | 25 basis point change | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | $ (885) |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | 942 |
Life expectancy | 1 year increase | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | 993 |
Rate of pension increase | 25 basis point change | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | 589 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | (143) |
Interest on savings account | 25 basis point change | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | 62 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | (30) |
Salary increase | 25 basis point change | |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | |
Increase (decrease) in defined benefit obligation due to reasonably possible increase in actuarial assumption | 61 |
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | $ (61) |
Post-employment benefits for _9
Post-employment benefits for associates (Details 7) - Other post-employment benefit plans | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of defined benefit plans [line items] | |||
Healthcare cost trend rate assumed for next year | 6.30% | 6.50% | 7.00% |
Rate to which the cost trend rate is assumed to decline | 4.50% | 4.50% | 4.50% |
Year that the rate reaches the ultimate trend rate | 2028 | 2028 | 2028 |
Post-employment benefits for_10
Post-employment benefits for associates (Details 8) - Pension plans - USD ($) shares in Millions, $ in Billions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, plan asset allocations | 100.00% | 100.00% |
Shares held by defined benefit plan | 2.3 | 2.3 |
Value of shares held by defined benefit plan | $ 0.2 | $ 0.2 |
Weighted average duration of defined benefit obligation years | 15 years 4 months 25 days | 15 years 2 months 13 days |
Equity securities | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, target plan asset allocations range minimum | 15.00% | |
Defined benefit plan, target plan asset allocations range maximum | 40.00% | |
Defined benefit plan, plan asset allocations | 28.00% | 27.00% |
Debt securities | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, target plan asset allocations range minimum | 20.00% | |
Defined benefit plan, target plan asset allocations range maximum | 60.00% | |
Defined benefit plan, plan asset allocations | 34.00% | 36.00% |
Real estate | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, target plan asset allocations range minimum | 5.00% | |
Defined benefit plan, target plan asset allocations range maximum | 20.00% | |
Defined benefit plan, plan asset allocations | 17.00% | 17.00% |
Alternative investments | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, target plan asset allocations range minimum | 0.00% | |
Defined benefit plan, target plan asset allocations range maximum | 20.00% | |
Defined benefit plan, plan asset allocations | 13.00% | 15.00% |
Cash and other investments | ||
Disclosure of defined benefit plans [line items] | ||
Defined benefit plan, target plan asset allocations range minimum | 0.00% | |
Defined benefit plan, target plan asset allocations range maximum | 15.00% | |
Defined benefit plan, plan asset allocations | 8.00% | 5.00% |
Post-employment benefits for_11
Post-employment benefits for associates (Details 9) $ in Millions | Dec. 31, 2020USD ($) |
Pension plans | |
Novartis Group contributions | |
Contributions, next fiscal year (estimated) | $ 404 |
Pension plans | Not later than one year [member] | |
Expected future benefit payments | |
Expected future benefit payment | 1,245 |
Pension plans | Later than one year and not later than two years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 1,198 |
Pension plans | Later than two years and not later than three years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 1,191 |
Pension plans | Later than three years and not later than four years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 1,182 |
Pension plans | Later than four years and not later than five years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 1,165 |
Pension plans | Later than five years and not later than ten years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 5,651 |
Other post-employment benefit plans | |
Novartis Group contributions | |
Contributions, next fiscal year (estimated) | 40 |
Other post-employment benefit plans | Not later than one year [member] | |
Expected future benefit payments | |
Expected future benefit payment | 40 |
Other post-employment benefit plans | Later than one year and not later than two years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 41 |
Other post-employment benefit plans | Later than two years and not later than three years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 41 |
Other post-employment benefit plans | Later than three years and not later than four years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 40 |
Other post-employment benefit plans | Later than four years and not later than five years [member] | |
Expected future benefit payments | |
Expected future benefit payment | 40 |
Other post-employment benefit plans | Later than five years and not later than ten years [member] | |
Expected future benefit payments | |
Expected future benefit payment | $ 181 |
Post-employment benefits for_12
Post-employment benefits for associates (Details 10) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Continuing operations | |||
Defined contribution pension and other post-retirement plans disclosure [line items] | |||
Post-employment benefit expense, defined contribution plans | $ 501 | $ 422 | $ 443 |
Equity-based participation pl_3
Equity-based participation plans for associates (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Liabilities from share-based payment transactions | $ 269 | $ 326 | $ 273 |
Continuing operations | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expense from share-based payment transactions with employees | $ 958 | 1,067 | 918 |
Discontinued operations | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expense from share-based payment transactions with employees | $ 9 | $ 93 |
Equity-based participation pl_4
Equity-based participation plans for associates (Details 2) | 12 Months Ended |
Dec. 31, 2020 | |
Annual incentive | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | The Annual Incentive for the Novartis Group CEO and other Executive Committee members (ECN) is paid 50% in cash and 50% in Novartis restricted shares (RSs) or restricted share units (RSUs). For the Novartis Top Leaders (NTLs), the Annual Incentive is paid 70% in cash and 30% in RSs or RSUs. Both the ECN and NTLs can opt to invest up to the maximum cash portion of their Annual Incentive to receive further RSs or RSUs. Any cash is paid out during February or March in the year following the end of the performance period, and the shares are granted during January in the year following the end of the performance period. |
Share savings plans | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | Associates in certain countries and certain key executives worldwide are encouraged to invest their Annual Incentive in a share savings plan. Under the share savings plan, participants may elect to receive their relevant compensation fully or partially in Novartis shares in lieu of cash. As a reward for their participation in the share savings plan, at no additional cost to the participant, Novartis matches their investments in shares after a holding period of three or five years. |
Employee Share Ownership Plan (ESOP) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | In Switzerland, Employee Share Ownership Plan (ESOP) participants may choose to receive their Annual Incentive (i) 100% in shares, (ii) 50% in shares and 50% in cash, or (iii) 100% in cash. After expiration of a three-year holding period for Novartis shares invested under the ESOP, participants will receive one matching share for every two invested shares. Associates eligible for the equity plan “Select” are not eligible to receive ESOP matching shares starting with the 2017 performance period. |
Leveraged Share Savings Plan (LSSP) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | The Leveraged Share Savings Plan (LSSP) was available to key executives for performance periods prior to 2016. At the participant’s election, the Annual Incentive was awarded partly or entirely in shares. The elected number of shares is subject to a holding period of five years. At the end of the holding period, Novartis will match the invested shares at a ratio of 1-to-1 (i.e., one share awarded for each invested share). In the United States, both the LSSP award and the corresponding match are cash settled. |
Select | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | The equity plan “Select” is a global equity incentive plan under which eligible associates may annually be awarded a grant subject to a three-year, and for selected units a four-year, staggered vesting period. No awards are granted for performance ratings below a certain threshold. Executive Committee members and NTLs are not eligible to participate in the equity plan “Select”. The equity plan “Select” currently allows participants in Switzerland to choose the form of their equity compensation in RSs or RSUs. In all other jurisdictions, RSs or RSUs are granted unilaterally. Until 2013, participants could also choose to receive part or the entire grant in the form of tradable share options. Tradable share options expire on their 10th anniversary from the grant date. Each tradable share option entitles the holder to purchase after vesting (and before the 10th anniversary from the grant date) one Novartis share at a stated exercise price that equals the closing market price of the underlying share at the grant date. As the exercise price does not reflect the decrease in the Novartis share due to the Alcon spin, one-fifth of an Alcon share will also be awarded to the option holder upon exercise. |
Long-Term Performance Plan | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | The Long-Term Performance Plan (LTPP) is an equity plan for the ECN, the NTLs and employees of Group units with specific targets. Participants are granted a target number of performance share units (PSUs) at the beginning of every performance period, which are converted into unrestricted Novartis shares after the performance period. The actual payout depends on the achievement of the performance measures and ranges between 0% and 200% of the granted amount. PSUs granted under the LTPP do not carry voting rights, but do carry dividend equivalents that are paid in unrestricted Novartis shares at the end of the performance period. The LTPP awards are subject to a three-year performance and vesting period. Until 2018, the performance criteria were based on Novartis internal performance metrics. Starting in 2019, for new grants the performance criteria are based on both Novartis internal performance metrics and variables that can be observed in the market, which is the ranking of the Novartis total shareholder return (TSR) relative to a global healthcare peer group of 14 other companies, over rolling three-year performance periods. TSR for Novartis and the peer companies is calculated as the change in the company share price, which is translated to USD at the relevant exchange rate, including the reinvestment return of dividends, over the three-year performance period. The calculation is based on Bloomberg standard published TSR data, which is publicly available. The position of Novartis in the peer group determines the payout range based on a payout matrix. |
Long-Term Relative Performance Plan | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | The LTRPP is an equity plan for the Novartis ECN and NTLs. The last grant under this plan was made in 2018. The LTRPP performance criteria are based on variables that can be observed in the market, which is the ranking of the Novartis TSR relative to a global healthcare peer group of 14 other companies, over rolling three-year performance periods. The TSR for Novartis and the peer companies is calculated as described in the LTPP section above. |
Special share awards | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Description of share-based payment arrangement | Selected associates, excluding the ECN members, may exceptionally receive Special Share Awards of RSs or RSUs. These Special Share Awards provide an opportunity to reward outstanding achievements or exceptional performance, and aim to retain key contributors. They are based on a formal internal selection process, through which the individual performance of each candidate is thoroughly assessed at several management levels. Special Share Awards have a minimum three-year vesting period. In exceptional circumstances, Special Share Awards may be awarded to attract special expertise and new talents to the ¬organization. Worldwide, associates at different levels in the organization were awarded RSs and RSUs in 2020, 2019 and 2018. In addition, in 2020, 2019 and 2018, Board members received ¬unrestricted shares as part of their regular compensation. |
Equity-based participation pl_5
Equity-based participation plans for associates (Details 3) - Select outside North America Pure in Millions | 12 Months Ended | |||
Dec. 31, 2020$ / shares | Dec. 31, 2019$ / shares | Dec. 31, 2020$ / shares | Dec. 31, 2019$ / shares | |
Disclosure of number and weighted average exercise prices of share options [roll forward] | ||||
Number of share options outstanding at beginning of period | 3.4 | 5.6 | ||
Weighted average exercise price of share options outstanding in share-based payment arrangement at beginning of period | $ 60.9 | $ 59.9 | ||
Number of share options exercised or sold | (0.8) | (2.2) | ||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 57.3 | $ 58.4 | ||
Number of share options outstanding at end of period | 2.6 | 3.4 | ||
Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period | $ 62 | $ 60.9 | ||
Number of share options exercisable | 2.6 | 3.4 | ||
Weighted average exercise price of share options exercisable in share-based payment arrangement | $ 62 | $ 60.9 | ||
Disclosure of number and weighted average remaining contractual life of outstanding share options [abstract] | ||||
Number of share options outstanding in share-based payment arrangement | 3.4 | 3.4 | 2.6 | 3.4 |
Weighted average remaining contractual life of outstanding share options | 1 year 4 months 26 days | |||
Weighted average exercise price of share options outstanding in share-based payment arrangement | $ 60.9 | $ 60.9 | $ 62 | $ 60.9 |
Weighted average share price for share options in share-based payment arrangement exercised during period at date of exercise | $ 91.7 | |||
57.0 | ||||
Disclosure of number and weighted average exercise prices of share options [roll forward] | ||||
Number of share options outstanding at end of period | 0.4 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [abstract] | ||||
Number of share options outstanding in share-based payment arrangement | 0.4 | 0.4 | ||
Weighted average remaining contractual life of outstanding share options | 0 years | |||
Exercise price of outstanding share options | $ 57 | |||
57.6 | ||||
Disclosure of number and weighted average exercise prices of share options [roll forward] | ||||
Number of share options outstanding at end of period | 0.8 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [abstract] | ||||
Number of share options outstanding in share-based payment arrangement | 0.8 | 0.8 | ||
Weighted average remaining contractual life of outstanding share options | 1 year | |||
Exercise price of outstanding share options | $ 57.6 | |||
66.0 | ||||
Disclosure of number and weighted average exercise prices of share options [roll forward] | ||||
Number of share options outstanding at end of period | 1.4 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [abstract] | ||||
Number of share options outstanding in share-based payment arrangement | 1.4 | 1.4 | ||
Weighted average remaining contractual life of outstanding share options | 2 years | |||
Exercise price of outstanding share options | $ 66 |
Equity-based participation pl_6
Equity-based participation plans for associates (Details 4) - Select North America Pure in Millions | 12 Months Ended | |||
Dec. 31, 2020$ / shares | Dec. 31, 2019$ / shares | Dec. 31, 2020$ / shares | Dec. 31, 2019$ / shares | |
Disclosure of number and weighted average exercise prices of share options [roll forward] | ||||
Number of share options outstanding at beginning of period | 9.6 | 15.2 | ||
Weighted average exercise price of share options outstanding in share-based payment arrangement at beginning of period | $ 61.9 | $ 60.7 | ||
Number of share options exercised or sold | (2.9) | (5.6) | ||
Weighted average exercise price of share options exercised in share-based payment arrangement | $ 59.6 | $ 58.6 | ||
Number of share options outstanding at end of period | 6.7 | 9.6 | ||
Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period | $ 62.9 | $ 61.9 | ||
Number of share options exercisable | 6.7 | 9.6 | ||
Weighted average exercise price of share options exercisable in share-based payment arrangement | $ 62.9 | $ 61.9 | ||
Disclosure of number and weighted average remaining contractual life of outstanding share options [abstract] | ||||
Number of share options outstanding in share-based payment arrangement | 9.6 | 9.6 | 6.7 | 9.6 |
Weighted average remaining contractual life of outstanding share options | 1 year 6 months 1 day | |||
Weighted average exercise price of share options outstanding in share-based payment arrangement | $ 61.9 | $ 61.9 | $ 62.9 | $ 61.9 |
Weighted average share price for share options in share-based payment arrangement exercised during period at date of exercise | $ 92.2 | |||
57.0 | ||||
Disclosure of number and weighted average exercise prices of share options [roll forward] | ||||
Number of share options outstanding at end of period | 0.4 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [abstract] | ||||
Number of share options outstanding in share-based payment arrangement | 0.4 | 0.4 | ||
Weighted average remaining contractual life of outstanding share options | 0 years | |||
Exercise price of outstanding share options | $ 57 | |||
57.6 | ||||
Disclosure of number and weighted average exercise prices of share options [roll forward] | ||||
Number of share options outstanding at end of period | 2.3 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [abstract] | ||||
Number of share options outstanding in share-based payment arrangement | 2.3 | 2.3 | ||
Weighted average remaining contractual life of outstanding share options | 1 year | |||
Exercise price of outstanding share options | $ 58.3 | |||
66.0 | ||||
Disclosure of number and weighted average exercise prices of share options [roll forward] | ||||
Number of share options outstanding at end of period | 4 | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [abstract] | ||||
Number of share options outstanding in share-based payment arrangement | 4 | 4 | ||
Weighted average remaining contractual life of outstanding share options | 2 years | |||
Exercise price of outstanding share options | $ 66.1 |
Equity-based participation pl_7
Equity-based participation plans for associates (Details 5) - Non-vested shares granted [member] $ / shares in Units, Pure in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2019USD ($)$ / shares | |
Schedule of unvested restricted stock units [roll forward] | ||
Number of shares at beginning of period | 25.8 | 25.7 |
Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement at beginning of period | $ / shares | $ 71.1 | $ 77.1 |
Fair value at grante date at beginning of period | $ | $ 1,835 | $ 1,981 |
Vested, number of shares | (13.8) | (13.3) |
Weighted average exercise price of other equity instruments exercised or vested in share-based payment arrangement | $ / shares | $ 74.2 | $ 80.3 |
Vested, fair value at grante date | $ | $ (1,024) | $ (1,068) |
Forfeited, number of shares | (2) | (4.3) |
Weighted average exercise price of other equity instruments forfeited in share-based payment arrangement | $ / shares | $ 75.3 | $ 76.3 |
Forfeited, fair value at grante date | $ | $ (151) | $ (328) |
Number of shares at end of period | 24.8 | 25.8 |
Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement at end of period | $ / shares | $ 78.9 | $ 71.1 |
Fair value at grante date at end of period | $ | $ 1,957 | $ 1,835 |
Annual incentive | ||
Schedule of unvested restricted stock units [roll forward] | ||
Granted, number of shares | 1.1 | 1.1 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ / shares | $ 93.7 | $ 78.4 |
Granted, fair value at grante date | $ | $ 103 | $ 86 |
Share savings plans | ||
Schedule of unvested restricted stock units [roll forward] | ||
Granted, number of shares | 4.2 | 4.2 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ / shares | $ 95 | $ 83 |
Granted, fair value at grante date | $ | $ 399 | $ 349 |
Select North America | ||
Schedule of unvested restricted stock units [roll forward] | ||
Granted, number of shares | 3.3 | 5.3 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ / shares | $ 86.7 | $ 64 |
Granted, fair value at grante date | $ | $ 286 | $ 339 |
Select outside North America | ||
Schedule of unvested restricted stock units [roll forward] | ||
Granted, number of shares | 2 | 2.6 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ / shares | $ 89.4 | $ 67.4 |
Granted, fair value at grante date | $ | $ 179 | $ 175 |
Long-Term Performance Plan | ||
Schedule of unvested restricted stock units [roll forward] | ||
Granted, number of shares | 2.5 | 2.5 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ / shares | $ 85.1 | $ 68.9 |
Granted, fair value at grante date | $ | $ 213 | $ 172 |
Long-Term Relative Performance Plan | ||
Schedule of unvested restricted stock units [roll forward] | ||
Granted, number of shares | 0.2 | 0.1 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ / shares | $ 0 | $ 0 |
Granted, fair value at grante date | $ | $ 0 | $ 0 |
Other share awards | ||
Schedule of unvested restricted stock units [roll forward] | ||
Granted, number of shares | 1.5 | 1.9 |
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ / shares | $ 78 | $ 67.7 |
Granted, fair value at grante date | $ | $ 117 | $ 129 |
Transaction with related partie
Transaction with related parties (Details 1) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Disclosure of transactions between related parties [line items] | |||
Net sales to third parties from continuing operations | $ 48,659 | $ 47,445 | $ 44,751 |
Executive Commitee members | 13 | 15 | 17 |
Non-executive directors | 14 | 13 | 13 |
Roche Holding AG [member] | |||
Disclosure of transactions between related parties [line items] | |||
Proportion of voting rights held in associate | 33.30% | 33.30% | 33.30% |
Genentech / Roche [member] | |||
Disclosure of transactions between related parties [line items] | |||
Net expense, royalties cost sharing and profit sharing | $ (217) | $ (101) | $ (34) |
Number of contracts with related parties | 2 | ||
Genentech / Roche [member] | Lucentis [member] | |||
Disclosure of transactions between related parties [line items] | |||
Net sales to third parties from continuing operations | $ 1,900 | 2,100 | 2,000 |
Genentech / Roche [member] | Xolair [member] | |||
Disclosure of transactions between related parties [line items] | |||
Net sales to third parties from continuing operations | $ 1,300 | $ 1,200 | $ 1,000 |
Spark Therapeutics, Inc. [member] | |||
Disclosure of transactions between related parties [line items] | |||
Number of contracts with related parties | 1 |
Transactions with related par_3
Transactions with related parties (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of transactions between related parties [line items] | |||
Benefits other than equity-based compensation | $ 30.2 | $ 24.8 | $ 26.5 |
Post-employment benefits | 2.7 | 2.6 | 2.5 |
Equity-based compensation | 46.3 | 45.2 | 47.3 |
Total | 79.2 | 72.6 | 76.3 |
Key management personnel of entity or parent [member] | |||
Disclosure of transactions between related parties [line items] | |||
Benefits other than equity-based compensation | 25.6 | 20.7 | 22.5 |
Post-employment benefits | 2.7 | 2.6 | 2.5 |
Equity-based compensation | 41.1 | 40.6 | 42.5 |
Total | 69.4 | 63.9 | 67.5 |
Non-Executive Director [member] | |||
Disclosure of transactions between related parties [line items] | |||
Benefits other than equity-based compensation | 4.6 | 4.1 | 4 |
Equity-based compensation | 5.2 | 4.6 | 4.8 |
Total | $ 9.8 | $ 8.7 | $ 8.8 |
Transactions with related par_4
Transactions with related parties (Details 3) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2020USD ($) | Dec. 31, 2020CHF (SFr) | Dec. 31, 2019USD ($) | Dec. 31, 2019CHF (SFr) | Dec. 31, 2018USD ($) | Dec. 31, 2018CHF (SFr) | |
Disclosure of transactions between related parties [line items] | ||||||
Key management personnel compensation | $ 79.2 | $ 72.6 | $ 76.3 | |||
Novartis Pension Fund [member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Borrowings credit facility uncommitted | 500 | |||||
Key management personnel of entity or parent [member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Key management personnel compensation | $ 69.4 | $ 63.9 | $ 67.5 | |||
Dr. Alex Krauer [member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Key management personnel compensation | SFr | SFr 60,000 | SFr 60,000 | SFr 60,000 | |||
Dr. Daniel Vasella [member] | ||||||
Disclosure of transactions between related parties [line items] | ||||||
Key management personnel compensation | SFr | SFr 18,228 |
Commitments and contingencies_2
Commitments and contingencies (Details) $ in Millions | Dec. 31, 2020USD ($) |
Schedule for commitments under fixed term operating leases [line items] | |
Research and development commitments for transactions entered into current year, closed after current year end | $ 3,296 |
Not later than one year | |
Schedule for commitments under fixed term operating leases [line items] | |
Research and development commitments for transactions entered into current year, closed after current year end | 549 |
Later than one year and not later than two years [member] | |
Schedule for commitments under fixed term operating leases [line items] | |
Research and development commitments for transactions entered into current year, closed after current year end | 248 |
Later than two years and not later than three years [member] | |
Schedule for commitments under fixed term operating leases [line items] | |
Research and development commitments for transactions entered into current year, closed after current year end | 160 |
Later than three years and not later than four years [member] | |
Schedule for commitments under fixed term operating leases [line items] | |
Research and development commitments for transactions entered into current year, closed after current year end | 415 |
Later than four years and not later than five years [member] | |
Schedule for commitments under fixed term operating leases [line items] | |
Research and development commitments for transactions entered into current year, closed after current year end | 515 |
Later than five years | |
Schedule for commitments under fixed term operating leases [line items] | |
Research and development commitments for transactions entered into current year, closed after current year end | $ 1,409 |
Commitments and contingencies_3
Commitments and contingencies (Details 2) $ in Millions | Dec. 31, 2020USD ($) |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | $ 5,232 |
Uncalled capital commitments for investments in funds | 87 |
Not later than one year | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | 449 |
Later than one year and not later than two years [member] | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | 691 |
Later than two years and not later than three years [member] | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | 325 |
Later than three years and not later than four years [member] | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | 483 |
Later than four years and not later than five years [member] | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | 281 |
Later than five years | |
Schedule for commitments under research and development and other intangible asset purchase [line items] | |
Commitments under long-term research and development agreements | $ 3,003 |
Financial instruments - addit_3
Financial instruments - additional disclosures (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and cash equivalents [member] | Financial assets at amortised cost, category [member] | Cash and cash equivalents [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 9,658 | $ 11,112 |
Financial assets at fair value, class [member] | Financial assets at fair value through other comprehensive income, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,173 | 1,215 |
Financial assets at fair value, class [member] | Financial assets at fair value through other comprehensive income, category [member] | Available-for-sale marketable securities [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 26 | 24 |
Financial assets at fair value, class [member] | Financial assets at fair value through other comprehensive income, category [member] | Available-for-sale long-term financial investments [member] | Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 36 | 33 |
Financial assets at fair value, class [member] | Financial assets at fair value through other comprehensive income, category [member] | Available-for-sale long-term financial investments [member] | Equity securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,111 | 1,158 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,827 | 1,323 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | Contingent consideration receivables [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 625 | 399 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | Associated companies at fair value through profit and loss [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 211 | 186 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | Derivative financial instruments [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 159 | 102 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | Available-for-sale marketable securities [member] | Fund investments [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 37 | |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | Available-for-sale long-term financial investments [member] | Equity securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 466 | 366 |
Financial assets at fair value, class [member] | Financial assets at fair value through profit or loss, category [member] | Available-for-sale long-term financial investments [member] | Fund investments [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 366 | 233 |
Financial assets at amortised cost, class [member] | Financial assets at amortised cost, category [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 20,744 | 21,839 |
Financial assets at amortised cost, class [member] | Financial assets at amortised cost, category [member] | Trade receivables [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 8,217 | 8,301 |
Financial assets at amortised cost, class [member] | Financial assets at amortised cost, category [member] | Other current assets [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 963 | 2,036 |
Financial assets at amortised cost, class [member] | Financial assets at amortised cost, category [member] | Time deposits with original maturity more than 90 days [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | 1,609 | 61 |
Financial assets at amortised cost, class [member] | Financial assets at amortised cost, category [member] | Long-term loans and receivables from customers and finance lease, advances, security deposits [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets | $ 297 | $ 329 |
Financial instruments - addit_4
Financial instruments - additional disclosures (Details 2) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 43,022 | $ 32,623 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Current financial debt [member] | Interest bearning accounts of associates payable on demand [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,085 | 1,836 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Current financial debt [member] | Bank and other financial debt [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 976 | 719 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Current financial debt [member] | Commercial paper [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 4,258 | 2,289 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Non-current financial debt [member] | Straight bonds [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 28,298 | 22,167 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Non-current financial debt [member] | Liabilities to banks and other financial institutions [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 233 | 188 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Trade payables [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 5,403 | 5,424 |
Financial liabilities at amortised cost, class [member] | Financial liabilities at amortised cost, category [member] | Commitment for repurchase of own shares [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,769 | |
Financial liabilities at amortised cost, class [member] | Other financial liabilities, category [member] | Lease liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,005 | 1,949 |
Financial liabilities at amortised cost, class [member] | Other financial liabilities, category [member] | Other financial liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 2,005 | 1,949 |
Financial liabilities at fair value, class [member] | Financial liabilities at fair value through profit or loss, category [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,263 | 1,250 |
Financial liabilities at fair value, class [member] | Financial liabilities at fair value through profit or loss, category [member] | Contingent consideration and other financial liabilities [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | 1,069 | 1,065 |
Financial liabilities at fair value, class [member] | Financial liabilities at fair value through profit or loss, category [member] | Derivative financial instruments [member] | ||
Disclosure of financial liabilities [line items] | ||
Financial liabilities | $ 194 | $ 185 |
Financial instruments - addit_5
Financial instruments - additional disclosures (Details 3) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Contract or underlying principal amout [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | $ 13,760 | $ 11,057 |
Positive fair values [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | 159 | 102 |
Negative fair values [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | (194) | (185) |
Derivative financial instruments, at fair value currency related [member] | Contract or underlying principal amout [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | 13,679 | 10,779 |
Derivative financial instruments, commodity purchase contract | 11 | 9 |
Derivative financial instruments, options on equity securities | 70 | 269 |
Derivative financial instruments, at fair value currency related [member] | Positive fair values [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | 151 | 96 |
Derivative financial instruments, commodity purchase contract | 8 | 6 |
Derivative financial instruments, at fair value currency related [member] | Negative fair values [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | (165) | (75) |
Derivative financial instruments, options on equity securities | $ (29) | $ (110) |
Financial instruments - addit_6
Financial instruments - additional disclosures (Details 4) - Contract or underlying principal amout [member] - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | $ 13,760 | $ 11,057 |
EUR | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | 2,432 | 1,373 |
USD | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | 6,457 | 8,019 |
Others | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments | 4,871 | 1,665 |
Derivative financial instruments, at fair value currency related [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | 13,679 | 10,779 |
Derivative financial instruments, commodity purchase contract | 11 | 9 |
Derivative financial instruments, options on equity securities | 70 | 269 |
Derivative financial instruments, at fair value currency related [member] | EUR | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | 2,432 | 1,373 |
Derivative financial instruments, at fair value currency related [member] | USD | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | 6,376 | 7,760 |
Derivative financial instruments, commodity purchase contract | 11 | 9 |
Derivative financial instruments, options on equity securities | 70 | 250 |
Derivative financial instruments, at fair value currency related [member] | Others | ||
Disclosure of derivative financial instruments [line items] | ||
Derivative financial instruments, forward foreign exchange rate contracts | $ 4,871 | 1,646 |
Derivative financial instruments, options on equity securities | $ 19 |
Financial instruments - addit_7
Financial instruments - additional disclosures (Details 5) - Recurring fair value measurement [member] - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Marketable securities, time deposits and derivative financial instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | $ 185 | $ 163 |
Marketable securities, time deposits and derivative financial instruments [member] | Debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 26 | 24 |
Marketable securities, time deposits and derivative financial instruments [member] | Fund investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 37 | |
Marketable securities, time deposits and derivative financial instruments [member] | Total available-for-sale marketable securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 26 | 61 |
Marketable securities, time deposits and derivative financial instruments [member] | Derivative financial instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 159 | 102 |
Financial investments and long-term loans [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 2,604 | 2,189 |
Financial investments and long-term loans [member] | Fund investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 366 | 233 |
Financial investments and long-term loans [member] | Available-for-sale financial investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 1,613 | 1,557 |
Financial investments and long-term loans [member] | Contingent consideration receivables [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 625 | 399 |
Associated companies at fair value through profit and loss [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 211 | 186 |
Level 1 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 37 | |
Level 1 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | Fund investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 37 | |
Level 1 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | Total available-for-sale marketable securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 37 | |
Level 1 of fair value hierarchy [member] | Financial investments and long-term loans [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 1,153 | 976 |
Level 1 of fair value hierarchy [member] | Financial investments and long-term loans [member] | Available-for-sale financial investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 1,153 | 976 |
Level 2 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 185 | 126 |
Level 2 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | Debt securities | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 26 | 24 |
Level 2 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | Total available-for-sale marketable securities [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 26 | 24 |
Level 2 of fair value hierarchy [member] | Marketable securities, time deposits and derivative financial instruments [member] | Derivative financial instruments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 159 | 102 |
Level 3 of fair value hierarchy [member] | Financial investments and long-term loans [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 1,451 | 1,213 |
Level 3 of fair value hierarchy [member] | Financial investments and long-term loans [member] | Fund investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 366 | 233 |
Level 3 of fair value hierarchy [member] | Financial investments and long-term loans [member] | Available-for-sale financial investments [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 460 | 581 |
Level 3 of fair value hierarchy [member] | Financial investments and long-term loans [member] | Contingent consideration receivables [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | 625 | 399 |
Level 3 of fair value hierarchy [member] | Associated companies at fair value through profit and loss [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets, at fair value | $ 211 | $ 186 |
Financial instruments - addit_8
Financial instruments - additional disclosures (Details 6) - Recurring fair value measurement [member] - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | $ (1,263) | $ (1,250) |
Contingent consideration payables [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (1,046) | (1,036) |
Other financial liabilities [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (23) | (29) |
Derivative financial instruments [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (194) | (185) |
Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (194) | (185) |
Level 2 of fair value hierarchy [member] | Derivative financial instruments [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (194) | (185) |
Level 3 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (1,069) | (1,065) |
Level 3 of fair value hierarchy [member] | Contingent consideration payables [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | (1,046) | (1,036) |
Level 3 of fair value hierarchy [member] | Other financial liabilities [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Financial liabilities, at fair value | $ (23) | $ (29) |
Financial instruments - addit_9
Financial instruments - additional disclosures (Details 7) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of derivative financial instruments [line items] | ||
Provisions and other non-current liabilities | $ 6,934 | $ 6,632 |
Assets and liabilities classified as held for sale [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Provisions and other non-current liabilities | 4 | |
Associated companies at fair value through profit and loss [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | 186 | 145 |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 57 | |
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement | (18) | (15) |
Fair value adjustments recognized in the consolidated statement of comprehensive income | 4 | |
Purchases fair value measurement assets | 24 | 49 |
Disposals fair value measurement assets | (23) | (3) |
Reclassification fair value measurement assets | (19) | 10 |
Fair value measurement, carrying value, level 3, at end of period | 211 | 186 |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | 39 | (15) |
Fund investments [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | 233 | 251 |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 151 | 12 |
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement | (8) | |
Fair value adjustments recognized in the consolidated statement of comprehensive income | 3 | |
Purchases fair value measurement assets | 17 | 28 |
Disposals fair value measurement assets | (61) | (30) |
Reclassification fair value measurement assets | 31 | |
Fair value measurement, carrying value, level 3, at end of period | 366 | 233 |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | 143 | 12 |
Long term financial investments [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | 581 | 488 |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 34 | 6 |
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement | (39) | |
Fair value adjustments recognized in the consolidated statement of comprehensive income | 33 | (6) |
Purchases fair value measurement assets | 123 | 229 |
Disposals fair value measurement assets | (109) | (53) |
Reclassification fair value measurement assets | (163) | (64) |
Fair value measurement, carrying value, level 3, at end of period | 460 | 581 |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | (5) | 6 |
Contingent consideration receivables [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | 399 | 396 |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 173 | 35 |
Fair value adjustments recognized in the consolidated statement of comprehensive income | 40 | |
Purchases fair value measurement assets | 43 | |
Cash receipts and payments fair value measurement assets | (30) | (32) |
Fair value measurement, carrying value, level 3, at end of period | 625 | 399 |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | 173 | 35 |
Contingent consideration payables [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | (1,036) | (907) |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 206 | 195 |
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement | (90) | (89) |
Fair value adjustments recognized in the consolidated statement of comprehensive income | (62) | |
Purchases fair value measurement assets | (123) | (401) |
Cash receipts and payments fair value measurement assets | 63 | 3 |
Reclassification fair value measurement assets | (4) | |
Fair value measurement, carrying value, level 3, at end of period | (1,046) | (1,036) |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | 116 | 106 |
Other financial liabilities [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | (29) | (10) |
Fair value gains and other adjustments including from divestments recognized in the consolidated income statement | 1 | |
Fair value losses (including impairments and amortizations) and other adjustments recognized in the consolidated income statement | (3) | (48) |
Fair value adjustments recognized in the consolidated statement of comprehensive income | (2) | |
Purchases fair value measurement assets | (5) | |
Cash receipts and payments fair value measurement assets | 11 | 33 |
Fair value measurement, carrying value, level 3, at end of period | (23) | (29) |
Total fair value gains and (losses) recognized in the consolidated income statement for assets and liabilities held at period end | $ (3) | (47) |
Discontinued operations [member] | Fund investments [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | (28) | |
Discontinued operations [member] | Long term financial investments [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | (19) | |
Discontinued operations [member] | Contingent consideration payables [member] | ||
Disclosure of derivative financial instruments [line items] | ||
Fair value measurement, carrying value, level 3, at beginning of period | $ 163 |
Financial instruments - addi_10
Financial instruments - additional disclosures (Details 8) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Maturity of net debt [line items] | ||
Current financial assets | $ 11,563 | $ 11,446 |
Non-current financial debts | (26,259) | (20,353) |
Current financial debt | (9,785) | (7,031) |
Net debt | (24,481) | (15,938) |
Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 1,635 | 122 |
Commodities [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 111 | 110 |
Deriviative financial instruments and accrued interest [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 159 | 102 |
Cash and cash equivalents [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 9,658 | 11,112 |
Financial debt [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | (26,259) | (20,353) |
Current financial debt | (9,591) | (6,846) |
Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | (26,463) | (20,505) |
Current financial debt | (9,593) | (6,846) |
Derivative financial instruments [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (194) | (185) |
Not later than one month [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 8,609 | 9,746 |
Current financial debt | (4,288) | (4,373) |
Net debt | 4,321 | 5,373 |
Not later than one month [member] | Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 13 | 20 |
Not later than one month [member] | Deriviative financial instruments and accrued interest [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 38 | 14 |
Not later than one month [member] | Cash and cash equivalents [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 8,558 | 9,712 |
Not later than one month [member] | Financial debt [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (4,195) | (4,243) |
Not later than one month [member] | Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (4,195) | (4,243) |
Not later than one month [member] | Derivative financial instruments [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (93) | (130) |
Later than one month and not later than three months [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 2,781 | 1,505 |
Current financial debt | (2,302) | (1,402) |
Net debt | 479 | 103 |
Later than one month and not later than three months [member] | Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 1,571 | 26 |
Later than one month and not later than three months [member] | Deriviative financial instruments and accrued interest [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 110 | 79 |
Later than one month and not later than three months [member] | Cash and cash equivalents [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 1,100 | 1,400 |
Later than one month and not later than three months [member] | Financial debt [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (2,218) | (1,373) |
Later than one month and not later than three months [member] | Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (2,219) | (1,373) |
Later than one month and not later than three months [member] | Derivative financial instruments [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (84) | (29) |
Later than three month and not later than twelve months [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 29 | 19 |
Current financial debt | (3,195) | (1,256) |
Net debt | (3,166) | (1,237) |
Later than three month and not later than twelve months [member] | Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 25 | 16 |
Later than three month and not later than twelve months [member] | Deriviative financial instruments and accrued interest [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 4 | 3 |
Later than three month and not later than twelve months [member] | Financial debt [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (3,178) | (1,230) |
Later than three month and not later than twelve months [member] | Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (3,179) | (1,230) |
Later than three month and not later than twelve months [member] | Derivative financial instruments [member] | ||
Maturity of net debt [line items] | ||
Current financial debt | (17) | (26) |
Between one and five years | ||
Maturity of net debt [line items] | ||
Current financial assets | 9 | 6 |
Non-current financial debts | (10,621) | (9,110) |
Net debt | (10,612) | (9,104) |
Between one and five years | Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 5 | 3 |
Between one and five years | Deriviative financial instruments and accrued interest [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 4 | 3 |
Between one and five years | Financial debt [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | (10,621) | (9,110) |
Between one and five years | Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | (10,661) | (9,150) |
Later than five years | ||
Maturity of net debt [line items] | ||
Current financial assets | 135 | 170 |
Non-current financial debts | (15,638) | (11,243) |
Net debt | (15,503) | (11,073) |
Later than five years | Marketable securities and time deposits [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 21 | 57 |
Later than five years | Commodities [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 111 | 110 |
Later than five years | Deriviative financial instruments and accrued interest [member] | ||
Maturity of net debt [line items] | ||
Current financial assets | 3 | 3 |
Later than five years | Financial debt [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | (15,638) | (11,243) |
Later than five years | Financial debt - undiscounted [member] | ||
Maturity of net debt [line items] | ||
Non-current financial debts | $ (15,802) | $ (11,355) |
Financial instruments - addi_11
Financial instruments - additional disclosures (Details 9) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | ||
Potential outflows in various currencies - from financial derivative liabilities | $ (5,745) | $ (6,390) |
Potential inflows in various currencies - from financial derivative assets | 5,728 | 6,385 |
Not later than one month [member] | ||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | ||
Potential outflows in various currencies - from financial derivative liabilities | (930) | (814) |
Potential inflows in various currencies - from financial derivative assets | 904 | 807 |
Later than one month and not later than three months [member] | ||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | ||
Potential outflows in various currencies - from financial derivative liabilities | (4,096) | (4,624) |
Potential inflows in various currencies - from financial derivative assets | 4,114 | 4,656 |
Later than three month and not later than twelve months [member] | ||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | ||
Potential outflows in various currencies - from financial derivative liabilities | (719) | (952) |
Potential inflows in various currencies - from financial derivative assets | $ 710 | $ 922 |
Financial instruments - addi_12
Financial instruments - additional disclosures (Details 10) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 |
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | |||
Contractual interest on non-current liabilities | $ (6,647) | $ (5,434) | |
Lease liability | (2,005) | (1,949) | $ (1,736) |
Trade payables | (5,403) | (5,424) | |
Contingent consideration liabilities | (1,046) | (1,036) | |
Commitment for repurchase own shares | (1,769) | ||
Later than one month and not later than three months [member] | |||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | |||
Contractual interest on non-current liabilities | (82) | (36) | |
Lease liability | (77) | (65) | |
Trade payables | (5,239) | (5,222) | |
Contingent consideration liabilities | (24) | (62) | |
Commitment for repurchase own shares | (1,769) | ||
Later than three month and not later than twelve months [member] | |||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | |||
Contractual interest on non-current liabilities | (468) | (428) | |
Lease liability | (209) | (181) | |
Trade payables | (164) | (202) | |
Contingent consideration liabilities | (38) | (9) | |
Between one and five years | |||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | |||
Contractual interest on non-current liabilities | (1,846) | (1,531) | |
Lease liability | (692) | (622) | |
Contingent consideration liabilities | (639) | (582) | |
Later than five years | |||
Derivative financial instruments and accrued interest on derivative financial instruments [line items] | |||
Contractual interest on non-current liabilities | (4,251) | (3,439) | |
Lease liability | (1,027) | (1,081) | |
Contingent consideration liabilities | $ (345) | $ (383) |
Financial instruments - addi_13
Financial instruments - additional disclosures (Details 11) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Ten day loss fair value VAR model [line items] | ||
All financial instruments | $ 587 | $ 355 |
Instruments sensitive to foreign currency exchange rates | 199 | 89 |
Instruments sensitive to equity market movements | 62 | 31 |
Instruments sensitive to interest rates | 197 | 187 |
Average | ||
Ten day loss fair value VAR model [line items] | ||
All financial instruments | 568 | 348 |
Instruments sensitive to foreign currency exchange rates | 225 | 143 |
Instruments sensitive to equity market movements | 78 | 36 |
Instruments sensitive to interest rates | 329 | 233 |
High | ||
Ten day loss fair value VAR model [line items] | ||
All financial instruments | 659 | 385 |
Instruments sensitive to foreign currency exchange rates | 515 | 195 |
Instruments sensitive to equity market movements | 261 | 81 |
Instruments sensitive to interest rates | 912 | 303 |
Low | ||
Ten day loss fair value VAR model [line items] | ||
All financial instruments | 322 | 303 |
Instruments sensitive to foreign currency exchange rates | 71 | 86 |
Instruments sensitive to equity market movements | 21 | 16 |
Instruments sensitive to interest rates | $ 173 | $ 187 |
Financial instruments - addi_14
Financial instruments - additional disclosures (Details 12) $ in Millions, € in Billions, ¥ in Billions | 12 Months Ended | |||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020EUR (€) | Dec. 31, 2020JPY (¥) | |
Disclosure of derivative financial instruments [line items] | ||||
Transfers out of Level 3 of fair value hierarchy, assets | $ (166) | $ (64) | ||
Amount of change in OCI when pricing parameters for level 3 change more than 10% | 104 | |||
Amount of change in OCI when most significant parameters for level 3 change more than 10% | 260 | |||
Amount of change in OCI when POS for level 3 change more than 10% | 324 | |||
Fair value of other financial assets sold | 206 | 33 | ||
Long-term financial debt with a carrying amount | $ 2,300 | 2,100 | € 1.8 | |
Maximum margin percentage impact of commodity price change | 10.00% | |||
Maximum holding in unrelated company | 5.00% | |||
Unrealized loss was recognized in other comprehensive income and accumulated in currency translation effects in relation with this net investment hedge | $ 201 | |||
Unrealized income was recognized in other comprehensive income and accumulated in currency translation effects in relation with this net investment hedge | 44 | |||
Net investment hedge recognized in the income statement | 0 | |||
Borrowings commercial paper maximum borrowing amount | $ 4,300 | 2,300 | ||
Borrowings commercial paper, number of programs | 3 | 3 | 3 | |
Borrowings credit facility committed | $ 6,000 | |||
Borrowings credit facility short term | 7,000 | |||
Amount borrowed under the credit facility | $ 7,000 | |||
VAR estimate confidence interval | 95.00% | 95.00% | 95.00% | |
Net loss/gain recorded on equity securities and fund investments at fair value through the consolidated income statement | $ 92 | $ 427 | ||
US commercial paper programs [member] | ||||
Disclosure of derivative financial instruments [line items] | ||||
Borrowings commercial paper maximum borrowing amount | $ 9,000 | |||
Borrowings commercial paper, number of programs | 2 | 2 | 2 | |
JP commercial paper programs [member] | ||||
Disclosure of derivative financial instruments [line items] | ||||
Borrowings commercial paper maximum borrowing amount | $ 1,500 | ¥ 150 | ||
Borrowings commercial paper, number of programs | 1 | 1 | 1 | |
Largest financial institution [member] | ||||
Counterparty risk [abstract] | ||||
Percentage of entity's cash and cash equivalents held with financial institution | 14.10% | 12.60% | ||
Second largest financial institution [member] | ||||
Counterparty risk [abstract] | ||||
Percentage of entity's cash and cash equivalents held with financial institution | 12.60% | 10.40% | ||
Third largest financial institution [member] | ||||
Counterparty risk [abstract] | ||||
Percentage of entity's cash and cash equivalents held with financial institution | 9.70% | 8.30% |
Financial instruments - addi_15
Financial instruments - additional disclosures (Details 13) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of major customers [line items] | |||
Customers with net sales over five percent | The Group’s largest, second-largest and third-largest customers account for approximately 17%, 11% and 6% of net sales, respectively (2019: 18%, 13% and 8%, respectively; 2018: 18%, 14% and 8%, respectively). All segments had sales to these customers in 2020, 2019 and 2018. The highest amounts of trade receivables outstanding were for these same three customers and amounted to approximately 14%, 12% and 6%, respectively, of the trade receivables at December 31, 2020 (2019: 14%, 12% and 7%, respectively). | ||
Largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 17.00% | 18.00% | 18.00% |
Percentage of entitys trade receivable | 14.00% | 14.00% | |
Second largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 11.00% | 13.00% | 14.00% |
Percentage of entitys trade receivable | 12.00% | 12.00% | |
Third largest customer [member] | |||
Disclosure of major customers [line items] | |||
Percentage of entity's revenue | 6.00% | 8.00% | 8.00% |
Percentage of entitys trade receivable | 6.00% | 7.00% |
Financial instruments - addi_16
Financial instruments - additional disclosures (Details 14) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity securities | $ 1,111 | $ 1,158 |
Fair value of other financial assets sold | 206 | 33 |
Listed equity securities [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity securities | 862 | 843 |
Non-listed equity securities [member] | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity securities | 249 | 315 |
Alcon | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Equity securities | 71 | 382 |
Fair value of other financial assets sold | 331 | 976 |
Alcon | Total fair value adjustments | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Gain (loss) on sale of other financial assets | 13 | 62 |
Others | Total fair value adjustments | ||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | ||
Gain (loss) on sale of other financial assets | $ 137 | $ 33 |
Discontinued operations (Detail
Discontinued operations (Details) - USD ($) $ in Millions | Apr. 08, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Statement [line items] | ||||
Net sales to third parties of discontinued operations | $ 48,659 | $ 47,445 | $ 44,751 | |
Sales to continuing and discontinued segments | 53 | 82 | ||
Net sales | 48,659 | 47,498 | 44,833 | |
Cost of goods sold | (15,121) | (14,425) | (14,510) | |
Gross profit | 34,777 | 34,252 | 31,589 | |
Selling, general and administration | (14,197) | (14,369) | (13,717) | |
Research and development | (8,980) | (9,402) | (8,489) | |
Other income | 1,742 | 2,031 | 1,629 | |
Other expense | (3,190) | (3,426) | (2,609) | |
Operating income of discontinued operations | 10,152 | 9,086 | 8,403 | |
Interest expense | (869) | (850) | (932) | |
Other financial income and expense | (78) | 45 | 186 | |
Income before taxes | 9,878 | 8,940 | 14,095 | |
Taxes | (1,807) | (1,793) | (1,295) | |
Net income/loss from discontinued operations before gain on distribution | (101) | (186) | ||
Gain on distribution of Alcon Inc. to Novartis AG shareholders | $ 4,691 | 4,691 | ||
Net income/loss from discontinued operations | 4,590 | (186) | ||
Continuing operations | ||||
Statement [line items] | ||||
Income before taxes | 9,878 | 8,940 | 14,095 | |
Taxes | $ (1,807) | (1,793) | (1,295) | |
Discontinued operations | ||||
Statement [line items] | ||||
Net sales to third parties of discontinued operations | 1,777 | 7,149 | ||
Sales to continuing and discontinued segments | 32 | 4 | ||
Net sales | 1,809 | 7,153 | ||
Cost of goods sold | (860) | (3,983) | ||
Gross profit | 949 | 3,170 | ||
Selling, general and administration | (638) | (2,754) | ||
Research and development | (142) | (585) | ||
Other income | 15 | 61 | ||
Other expense | (113) | (126) | ||
Operating income of discontinued operations | 71 | (234) | ||
Interest expense | (10) | (25) | ||
Other financial income and expense | (3) | (1) | ||
Income before taxes | 58 | (260) | ||
Taxes | (159) | 74 | ||
Net income/loss from discontinued operations before gain on distribution | (101) | (186) | ||
Gain on distribution of Alcon Inc. to Novartis AG shareholders | 4,691 | |||
Net income/loss from discontinued operations | $ 4,590 | $ (186) |
Discontinued operations (Deta_2
Discontinued operations (Details 2) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Interest income | $ 91 | $ 245 | $ 292 |
Impairment charges and fair value gains on financial assets, net | 335 | 38 | (6) |
Additions to restructuring provisions | (354) | (492) | (521) |
Discontinued operations | |||
Statement [line items] | |||
Interest income | 2 | ||
Additions to restructuring provisions | (13) | ||
Equity-based compensation of Novartis equity plans | (9) | (93) | |
Property, plant and equipment [member] | |||
Statement [line items] | |||
Depreciation and amortisation expense | (1,318) | (1,345) | (1,482) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (440) | (202) | (301) |
Property, plant and equipment [member] | Discontinued operations | |||
Statement [line items] | |||
Depreciation and amortisation expense | (42) | (235) | |
Impairment loss (reversal of impairment loss) recognised in profit or loss | (3) | ||
Right-of-use assets [member] | |||
Statement [line items] | |||
Depreciation and amortisation expense | (330) | (305) | |
Right-of-use assets [member] | Discontinued operations | |||
Statement [line items] | |||
Depreciation and amortisation expense | (9) | ||
Intangible assets and goodwill [member] | |||
Statement [line items] | |||
Depreciation and amortisation expense | (3,462) | (2,836) | (2,587) |
Impairment loss (reversal of impairment loss) recognised in profit or loss | $ (914) | (1,138) | (841) |
Intangible assets and goodwill [member] | Discontinued operations | |||
Statement [line items] | |||
Depreciation and amortisation expense | $ (174) | (1,052) | |
Impairment loss (reversal of impairment loss) recognised in profit or loss | $ (391) |
Discontinued operations (Deta_3
Discontinued operations (Details 3) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of operating segments [line items] | ||
Additions to property, plant and equipment | $ 1,265 | $ 1,474 |
Additions to right-of-use assets | 346 | 537 |
Additions to intangible assets and goodwill | $ 1,425 | 767 |
Discontinued operations | ||
Disclosure of operating segments [line items] | ||
Additions to property, plant and equipment | 113 | |
Additions to right-of-use assets | 3 | |
Additions to intangible assets and goodwill | $ 36 |
Discontinued operations (Deta_4
Discontinued operations (Details 4) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement [line items] | |||
Net cash flows used in investing activities from discontinued operations | $ (127) | $ (1,159) | $ (1,001) |
Net cash flows used in/from financing activities from discontinued operations | (50) | 3,257 | (167) |
Transaction cost payments | (147) | 56 | 67 |
Discontinued operations | |||
Statement [line items] | |||
Payments attributable to the spin-off of the Alcon business | (39) | (29) | |
Divested cash and cash equivalents | (628) | ||
Cash flows attributable to divested business | (39) | (657) | |
Other cash flows used in investing activities, net | $ (88) | (502) | (1,001) |
Cash inflow from borrowings | 3,492 | 0 | |
Transaction cost payments | $ 212 | $ 57 |
Discontinued operations (Deta_5
Discontinued operations (Details 5) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 08, 2019 | Jan. 01, 2019 |
Statement [line items] | ||||
Lease liabilities | $ 2,005 | $ 1,949 | $ 1,736 | |
Right-of-use assets | 1,676 | 1,677 | 1,554 | |
Not later than one year [member] | ||||
Statement [line items] | ||||
Lease liabilities | 286 | 246 | ||
Between one and five years | ||||
Statement [line items] | ||||
Lease liabilities | 692 | 622 | ||
Later than five years [member] | ||||
Statement [line items] | ||||
Lease liabilities | $ 1,027 | $ 1,081 | ||
Discontinued operations | ||||
Statement [line items] | ||||
Lease liabilities | $ 269 | 286 | ||
Right-of-use assets | $ 269 | $ 276 |
Discontinued operations (Deta_6
Discontinued operations (Details 6) - USD ($) $ in Millions | Apr. 08, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Statement [line items] | ||||||
Property, plant and equipment | $ 12,263 | $ 12,069 | ||||
Right-of-use assets | 1,676 | 1,677 | $ 1,554 | |||
Goodwill | 29,999 | 26,524 | ||||
Intangible assets other than goodwill | 36,809 | 28,787 | ||||
Deferred tax assets | 8,214 | 7,909 | ||||
Inventories | 7,131 | 5,982 | ||||
Cash and cash equivalents | 9,658 | 11,112 | $ 13,271 | $ 8,860 | ||
Deferred tax liabilities | (7,422) | (5,867) | ||||
Current and non-current lease liabilities | $ (2,005) | $ (1,949) | (1,736) | |||
Discontinued operations | ||||||
Statement [line items] | ||||||
Property, plant and equipment | $ 2,858 | |||||
Right-of-use assets | 269 | 276 | ||||
Goodwill | 8,906 | |||||
Intangible assets other than goodwill | 11,121 | |||||
Deferred tax assets | 732 | |||||
Financial and other non-current assets | 526 | |||||
Inventories | 1,469 | |||||
Trade receivables and other current assets | 1,787 | |||||
Cash and cash equivalents | 628 | |||||
Deferred tax liabilities | (1,713) | |||||
Current and non-current lease liabilities | (269) | $ (286) | ||||
Current and non-current financial debt | (3,538) | |||||
Trade payables, provisions and other liabilities | (2,751) | |||||
Net assets derecognized | $ 20,025 |
Discontinued operations (Deta_7
Discontinued operations (Details 8) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Discontinued operations | ||
Defined contribution pension and other post-retirement plans disclosure [line items] | ||
Post-employment benefit expense, defined contribution plans | $ 33 | $ 104 |
Discontinued operations (Deta_8
Discontinued operations (Details 9) - USD ($) $ in Millions | 1 Months Ended | ||||
Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 08, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about business combination [line items] | |||||
Identifiable assets acquired (liabilities assumed) | $ 10,173 | $ 4,124 | $ 13,946 | ||
Deferred tax liability (asset) | (792) | (2,042) | (1,224) | ||
Intangible assets other than goodwill | $ 36,809 | $ 28,787 | |||
Continuing operations | |||||
Disclosure of detailed information about business combination [line items] | |||||
Identifiable assets acquired (liabilities assumed) | 13,660 | ||||
Discontinued operations | |||||
Disclosure of detailed information about business combination [line items] | |||||
Deferred tax liability (asset) | $ (858) | ||||
Intangible assets other than goodwill | $ 11,121 | ||||
Discontinued operations | PowerVision, Inc. | Alcon [member] | |||||
Disclosure of detailed information about business combination [line items] | |||||
Consideration transferred, acquisition-date fair value | $ 424 | ||||
Portion of consideration paid (received) consisting of cash and cash equivalents | (289) | ||||
Contingent liabilities recognised as of acquisition date | 135 | ||||
Identifiable assets acquired (liabilities assumed) | 418 | ||||
Additional recognition, goodwill | 6 | ||||
Other net assets | 6 | ||||
Deferred tax liability (asset) | 93 | ||||
Intangible assets other than goodwill | $ 505 |
Events subsequent to the Dece_2
Events subsequent to the December 31 consolidated balance sheet date (Details) $ in Billions | 12 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2020SFr / shares | Dec. 31, 2019USD ($) | |
Statement [line items] | |||
Dividends proposed | $ | $ 7.7 | $ 7 | |
Subsequent Event [member] | |||
Statement [line items] | |||
Dividends proposed, cash per share | SFr / shares | SFr 3 |
Events subsequent to the Dece_3
Events subsequent to the December 31 consolidated balance sheet date (Details 2) $ in Millions | Dec. 31, 2020USD ($) |
Subsequent Event [member] | |
Statement [line items] | |
Estimated acquisition fair value of total consideration | $ 235 |
Principal Group subsidiaries _3
Principal Group subsidiaries and associated companies (Details) - 12 months ended Dec. 31, 2020 ₽ in Millions, ₺ in Millions, ₴ in Millions, ₱ in Millions, ₨ in Millions, ฿ in Millions, ৳ in Millions, ر.س in Millions, دج in Millions, د.م. in Millions, د.إ in Millions, ¥ in Millions, zł in Millions, kr in Millions, kr in Millions, kr in Millions, kn in Millions, S/ in Millions, RM in Millions, R$ in Millions, R in Millions, Kč in Millions, Ft in Millions, $ in Millions, $ in Millions, $ in Millions, in Millions, in Millions, ₫ in Billions, ₩ in Billions, ₨ in Billions, Rp in Billions, $ in Billions, $ in Billions | USD ($) | EUR (€) | CHF (SFr) | JPY (¥) | VEF ( ) | VND (₫) | ILS (₪) | PHP (₱) | GBP (£) | CAD ($) | TWD ($) | THB (฿) | TRY (₺) | UAH (₴) | AED (د.إ) | PKR (₨) | PEN (S/) | PLN (zł) | RON ( ) | RUB (₽) | SAR (ر.س) | SGD ($) | ZAR (R) | KRW (₩) | SEK (kr) | DZD (دج) | ARS ($) | AUD ($) | BDT (৳) | BRL (R$) | CLP ($) | HKD ($) | COP ($) | HRK (kn) | CZK (Kč) | DKK (kr) | EGP (ج.م.) | HUF (Ft) | INR (₨) | IDR (Rp) | MYR (RM) | MXN ($) | MAD (د.م.) | NZD ($) | NOK (kr) |
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Principal group companies materiality of assets or sales to third parties | $ | $ 25,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Advanced Accelerator Applications (AAA) [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Societe par actions SANDOZ, Algiers [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Société par actions SANDOZ | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Algiers | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Algeria | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | دج | دج 650 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Manufacturing Inc. [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Manufacturing Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Boucherville, Quebec | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Canada | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 100 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Argentina S.A., Buenos Aires [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Argentina S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Buenos Aires | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Argentina | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 906.1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Australia Pty Ltd, Macquarie Park, NSW [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Australia Pty Ltd | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Macquarie Park, NSW | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Australia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 2 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharmaceuticals Australia Pty Ltd, Macquarie Park, NSW [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharmaceuticals Australia Pty Ltd | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Macquarie Park, NSW | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Australia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | 3,800,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Pty Ltd, Macquarie Park, NSW [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Pty Ltd | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Macquarie Park, NSW | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Australia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 11,600,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Austria GmbH, Vienna [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Austria GmbH | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Vienna | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Austria | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | € 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma GmbH, Vienna [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma GmbH | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Vienna | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Austria | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 1,100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz GmbH, Kundl [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz GmbH | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Kundl | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Austria | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 32,700,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | EBEWE Pharma Ges.m.b.H Nfg. KG, Unterach am Attersee [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | EBEWE Pharma Ges.m.b.H Nfg. KG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Unterach am Attersee | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Austria | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis (Bangladesh) Limited, Gazipur [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis (Bangladesh) Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Gazipur | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bangladesh | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ৳ | ৳ 162.5 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 60.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma NV, Vilvoorde [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma NV | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Vilvoorde | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Belgium | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 7,100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz NV, Vilvoorde [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz NV | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Vilvoorde | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Belgium | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 19,200,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Alcon - Couvreur NV, Puurs [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Alcon - Couvreur NV | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Puurs | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Belgium | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 110,600,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Investment Ltd., Hamilton [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Investment Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hamilton | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bermuda | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 12,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Securities Investment Ltd., Hamilton [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Securities Investment Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hamilton | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bermuda | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | SFr 30,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Finance Services Ltd., Hamilton [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Finance Services Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hamilton | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bermuda | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 20,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Triangle International Reinsurance Limited, Hamilton [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Triangle International Reinsurance Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hamilton | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bermuda | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Trinity River Insurance Co Ltd., Hamilton [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Trinity River Insurance Co Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hamilton | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Bermuda | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 370,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Biociencias S.A., Sao Paulo [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Biociências S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | São Paulo | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Brazil | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | R$ | R$ 265.0 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz do Brasil Industria Farmaceutica Ltda., Cambe, PR [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz do Brasil Indústria Farmacêutica Ltda. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Cambé, PR | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Brazil | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | R$ | R$ 190.0 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharmaceuticals Canada Inc., Dorval, Quebec [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharmaceuticals Canada Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Dorval, Quebec | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Canada | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | 1,200,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Canada Inc., Boucherville, Quebec [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Canada Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Boucherville, Quebec | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Canada | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 80,800,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Chile S.A., Santiago de Chile [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Chile S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Santiago de Chile | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Chile | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 2 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Beijing Novartis Pharma Co., Ltd., Beijing [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Beijing Novartis Pharma Co., Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Beijing | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 30,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharmaceuticals (HK) Limited, Hong Kong [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharmaceuticals (HK) Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Hong Kong | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 200 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | China Novartis Institutes for BioMedical Research Co., Ltd., Shanghai [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | China Novartis Institutes for BioMedical Research Co., Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Shanghai | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 320,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Suzhou Novartis Technical Development Co., Ltd., Changshu [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Suzhou Novartis Technical Development Co., Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Changshu | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 12,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Shanghai Novartis Trading Ltd., Shanghai [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Shanghai Novartis Trading Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Shanghai | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 3,200,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz (China) Pharmaceutical Co., Ltd., Zhongshan [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz (China) Pharmaceutical Co., Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Zhongshan | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | China | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 57,600,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis de Colombia S.A., Santafe de Bogota [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis de Colombia S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Santafé de Bogotá | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Colombia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 7.9 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz d.o.o. farmaceutska industrija, Zagreb [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz d.o.o. farmaceutska industrija | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Zagreb | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Croatia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | kn | kn 25.6 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis s.r.o., Prague [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis s.r.o. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Prague | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Czech Republic | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | Kč | Kč 51.5 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz s.r.o., Prague [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz s.r.o. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Prague | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Czech Republic | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | Kč | Kč 44.7 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Healthcare A/S, Copenhagen [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Healthcare A/S | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Copenhagen | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Denmark | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | kr | kr 14 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz A/S, Copenhagen [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz A/S | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Copenhagen | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Denmark | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | kr | kr 12 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Ecuador S.A., Quito [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Ecuador S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Quito | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Ecuador | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma S.A.E., Cairo [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma S.A.E. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Cairo | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Egypt | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ج.م. | ج.م. 193,800,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.77% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.77% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Egypt Pharma S.A.E., New Cairo City [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Egypt Pharma S.A.E. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | New Cairo City | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Egypt | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ج.م. | ج.م. 250,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Finland Oy, Espoo [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Finland Oy | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Espoo | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Finland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 459,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Groupe France S.A., Rueil-Malmaison [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Groupe France S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Rueil-Malmaison | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 903,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma S.A.S., Rueil-Malmaison [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma S.A.S. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Rueil-Malmaison | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 43,400,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications S.A., Saint Genis Pouilly [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Saint-Genis-Pouilly | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 76,734 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | CELLforCURE, Les Ulis [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | CELLforCURE | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Les Ulis | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 4,200,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz S.A.S., Levallois-Perret [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz S.A.S. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Levallois-Perret | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | France | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 5,400,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma GmbH, Nuremberg [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma GmbH | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Nuremberg | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 25,600,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Produktions GmbH, Wehr [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Produktions GmbH | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Wehr | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz International GmbH, Holzkirchen [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz International GmbH | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Holzkirchen | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | 1 A Pharma GmbH, Oberhaching [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | 1 A Pharma GmbH | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Oberhaching | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 26,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Salutas Pharma GmbH, Barleben [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Salutas Pharma GmbH | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Barleben | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 42,100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | HEXAL AG, Holzkirchen [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | HEXAL AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Holzkirchen | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 93,700,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Aeropharm GmbH, Rudolstadt [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Aeropharm GmbH | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Rudolstadt | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 26,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Deutschland GmbH, Nuremberg [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Deutschland GmbH | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Nuremberg | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 155.5 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Business Services GmbH, Wehr [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Business Services GmbH | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Wehr | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Germany | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 25,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis (Hellas) S.A.C.I., Metamorphosis/Athens [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis (Hellas) S.A.C.I. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Metamorphosis / Athens | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Greece | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 233,900,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Hungary Healthcare Limited Liability Company, Budapest [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Hungary Healthcare Limited Liability Company | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Budapest | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Hungary | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | Ft | Ft 545.6 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Hungary Limited Liability Company, Budapest [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Hungary Limited Liability Company | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Budapest | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Hungary | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | Ft | Ft 883 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis India Limited, Mumbai [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis India Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Mumbai | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | India | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₨ | ₨ 123.5 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 70.68% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 70.68% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Healthcare Private Limited, Mumbai [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Healthcare Private Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Mumbai | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | India | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₨ | 60 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Private Limited, Mumbai [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Private Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Mumbai | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | India | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₨ | ₨ 32 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | PT. Novartis Indonesia, Jakarta [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | PT. Novartis Indonesia | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Jakarta | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Indonesia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | Rp | Rp 7.7 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Ireland Limited, Dublin [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Ireland Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Dublin | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Ireland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 25,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Integrated Services Limited, Ringaskiddy, County Cork [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Integrated Services Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Ringaskiddy, County Cork | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Ireland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 100 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Ringaskiddy Limited, Ringaskiddy, County Cork [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Ringaskiddy Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Ringaskiddy, County Cork | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Ireland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Gene Therapies EU Limited, Dublin [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Gene Therapies EU Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Dublin | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Ireland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 100 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Israel Ltd., Tel Aviv [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Israel Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Tel Aviv | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Israel | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₪ | ₪ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Farma S.p.A., Origgio [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Farma S.p.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Origgio | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Italy | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 18,200,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications (Italy) S.r.l., Pozzilli [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications (Italy) S.r.l. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Pozzilli | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Italy | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 119,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz S.p.A., Origgio [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz S.p.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Origgio | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Italy | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 1,700,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma K.K., Tokyo [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma K.K. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Tokyo | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Japan | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ¥ | ¥ 6,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Ciba-Geigy Japan Limited, Tokyo [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Ciba-Geigy Japan Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Tokyo | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Japan | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ¥ | 8.5 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz K.K., Tokyo [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz K.K. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Tokyo | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Japan | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ¥ | 100 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Aspen Japan K.K., Tokyo [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Aspen Japan K.K. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Tokyo | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Japan | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ¥ | ¥ 2.2 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Baltics SIA, Riga [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Baltics SIA | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Riga | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Latvia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Investments S.a r.l., Luxembourg City [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Investments S.à r.l. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Luxembourg City | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Luxembourg | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 100,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Finance S.A., Luxembourg City [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Finance S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Luxembourg City | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Luxembourg | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Corporation (Malaysia) Sdn. Bhd., Kuala Lumpur [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Corporation (Malaysia) Sdn. Bhd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Kuala Lumpur | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Malaysia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | RM | RM 3.3 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Farmaceutica, S.A. de C.V., Mexico City [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Farmacéutica, S.A. de C.V. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Mexico City | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Mexico | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 205 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz, S.A. de C.V., Mexico City [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz, S.A. de C.V. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Mexico City | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Mexico | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 468.2 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Maroc SA, Casablanca [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Maroc SA | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Casablanca | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Morocco | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | د.م. | د.م. 80.0 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Netherlands B.V., Amsterdam [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Netherlands B.V. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Amsterdam | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Netherlands | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 1,400,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma B.V., Amsterdam [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma B.V. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Amsterdam | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Netherlands | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 4,500,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | IDB Holland BV, Baarle-Nassau [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | IDB Holland BV | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Baarle-Nassau | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Netherlands | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 18,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz B.V., Almere [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz B.V. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Almere | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Netherlands | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 907,560 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis New Zealand Ltd, Auckland [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis New Zealand Ltd | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Auckland | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | New Zealand | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 820,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Norge AS, Oslo [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Norge AS | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Oslo | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Norway | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | kr | kr 1.5 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma (Pakistan) Limited, Karachi [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma (Pakistan) Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Karachi | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Pakistan | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₨ | ₨ 6.7 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.99% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.99% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma (Logistics), Inc., Panama City [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma (Logistics), Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Panama City | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Panama | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 10,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Biosciences Peru S.A., Lima [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Biosciences Perú S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Lima | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Peru | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | S/ | S/ 6.1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Healthcare Philippines, Inc., Makati City [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Healthcare Philippines, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Makati City | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Philippines | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₱ | ₱ 298.8 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Philippines Corporation, Makati City [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Philippines Corporation | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Makati City | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Philippines | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₱ | ₱ 30 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Poland Sp. z o.o., Warsaw [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Poland Sp. z o.o. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Warsaw | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Poland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | zł | zł 44.2 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Polska Sp. z o.o., Warsaw [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Polska Sp. z o.o. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Warsaw | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Poland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | zł | 25.6 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Lek S.A., Strykow [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Lek S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Strykow | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Poland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | zł | zł 11.4 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Portugal SGPS Lda., Porto Salvo [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Portugal, S.G.P.S., Lda. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Porto Salvo | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Portugal | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 500,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Farma - Produtos Farmaceuticos S.A., Porto Salvo [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Farma - Produtos Farmacêuticos, S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Porto Salvo | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Portugal | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 2,400,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Farmaceutica Lda., Porto Salvo [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Farmacêutica, Lda. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Porto Salvo | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Portugal | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 499,900 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Services Romania S.R.L., Bucharest [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Services Romania S.R.L. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Bucharest | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Romania | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | | 3 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz S.R.L., Targu-Mures [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz S.R.L. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Targu-Mures | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Romania | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | | 105.2 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma LLC, Moscow [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma LLC | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Moscow | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Russian Federation | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₽ | ₽ 20 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Neva LLC, St. Petersburg [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Neva LLC | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | St. Petersburg | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Russian Federation | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₽ | 500 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | ZAO Sandoz, Moscow [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | ZAO Sandoz | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Moscow | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Russian Federation | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₽ | ₽ 57.4 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Saudi Ltd., Riyadh [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Saudi Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Riyadh | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Saudi Arabia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ر.س | ر.س 30.0 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis (Singapore) Pte Ltd., Singapore [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis (Singapore) Pte Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Singapore | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Singapore | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Singapore Pharmaceutical Manufacturing Pte Ltd, Singapore [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Singapore Pharmaceutical Manufacturing Pte Ltd | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Singapore | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Singapore | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | 45,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Asia Pacific Pharmaceuticals Pte Ltd, Singapore [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Asia Pacific Pharmaceuticals Pte Ltd | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Singapore | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Singapore | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 39,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Slovakia s.r.o., Bratislava [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Slovakia s.r.o. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Bratislava | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Slovakia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Lek Pharmaceuticals d.d., Ljubjana [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Lek Pharmaceuticals d.d. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Ljubljana | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Slovenia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 48,400,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Pharmaceuticals d.d., Ljubjana [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Pharmaceuticals d.d. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Ljubljana | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Slovenia | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 1,500,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis South Africa (Pty) Ltd, Midrand [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis South Africa (Pty) Ltd | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Midrand | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | South Africa | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | R | R 86.3 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz South Africa (Pty) Ltd, Kempton Park [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz South Africa (Pty) Ltd | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Kempton Park | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | South Africa | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | R | R 3 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Korea Ltd., Seoul [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Korea Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Seoul | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | South Korea | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₩ | ₩ 24.5 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 98.55% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 98.55% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Farmaceutica, S.A., Barcelona [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Farmacéutica, S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Barcelona | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 63,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications Iberica, S.L.U., Barcelona [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications Iberica, S.L.U. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Barcelona | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 22,600,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Farmaceutica S.A., Madrid [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Farmacéutica S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Madrid | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 270,450 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Industrial Products S.A., Barcelona [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Industrial Products S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Les Franqueses del Vallés / Barcelona | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 9,300,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Catalana de Dispensacion sau (Cadisa), Esplugues de Llobregat [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Catalana de Dispensacion sau (Cadisa) | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Esplugues de Llobregat | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 450,750 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Alcon Cusi S.A., Barcelona [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Alcon Cusi, S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | El Masnou / Barcelona | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | 10,100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Abadia Retuerta S.A., Sardon de Duero/Valladolid [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Abadia Retuerta S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Sardón de Duero / Valladolid | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Spain | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | € | € 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Sverige AB, Stockholm [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Sverige AB | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Stockholm | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Sweden | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | kr | kr 5 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Overseas Investments AG, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Overseas Investments AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Japat AG, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Japat AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 50,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis International AG, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis International AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 10,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Holding AG, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Holding AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 100,200,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis International Pharmaceutical Investment AG, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis International Pharmaceutical Investment AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Ophthalmics AG, Fribourg [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Ophthalmics AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Fribourg | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Bioventures AG, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Bioventures AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Forschungsstiftung, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Forschungsstiftung | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Stiftung fuer Kaderausbildung, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Stiftung für Kaderausbildung | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Mitarbeiterbeteiligungsstiftung, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Mitarbeiterbeteiligungsstiftung | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Stiftung fuer Mensch und Umwelt, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Stiftung für Mensch und Umwelt | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Stiftung der Novartis AG fuer Erziehung, Ausbildung und Bildung, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Stiftung der Novartis AG für Erziehung, Ausbildung und Bildung | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma AG, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 350,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Services AG, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Services AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 20,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Schweizerhalle AG, Muttenz [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Schweizerhalle AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Muttenz | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 18,900,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Stein AG, Stein [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Stein AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Stein | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 251,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharma Schweiz AG, Risch [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharma Schweiz AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Risch | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications International SA, Geneve [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications International SA | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Geneva | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 9,300,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz AG, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 5,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Pharmaceuticals AG, Risch [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Pharmaceuticals AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Risch | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Roche Holding AG, Basel [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Roche Holding AG | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Basel | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Switzerland | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | SFr | SFr 160,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 6.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis (Taiwan) Co., Ltd., Taipei [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis (Taiwan) Co., Ltd. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Taipei | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Taiwan | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 170 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis (Thailand) Limited, Bangkok [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis (Thailand) Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Bangkok | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Thailand | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ฿ | ฿ 302 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Saglik, Gida ve Tarim Urunleri Sanayi ve Ticaret A.S., Istanbul [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Saglik, Gida ve Tarim Ürünleri Sanayi ve Ticaret A.S. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Istanbul | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Turkey | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₺ | ₺ 98 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Farmanova Saglik Hizmetleri Ltd. Sti., Istanbul [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Farmanova Saglik Hizmetleri Ltd. Sti. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Istanbul | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Turkey | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₺ | 6.7 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Ilac Sanayi ve Ticaret A.S., Istanbul [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Ilaç Sanayi ve Ticaret A.S. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Istanbul | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Turkey | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₺ | 265 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.99% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.99% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Grup Saglik Urunleri Ilaclari Sanayi ve Ticaret A.S., Gebze - Kocaeli [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Grup Saglik Ürünleri Ilaçlari Sanayi ve Ticaret A.S. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Gebze - Kocaeli | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Turkey | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₺ | ₺ 50 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Ukraine LLC, Kyiv [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Ukraine LLC | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Kyiv | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Ukraine | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₴ | ₴ 8 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Middle East FZE, Dubai [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Middle East FZE | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Dubai | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Arab Emirates | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | د.إ | د.إ 7.0 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis UK Limited, London [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis UK Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | £ 25,500,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharmaceuticals UK Limited, London [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharmaceuticals UK Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | 5,400,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Grimsby Limited, London [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Grimsby Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | 250,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications (UK & Ireland), London [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications (UK & Ireland) | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | 100 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Neutec Pharma Limited, London [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Neutec Pharma Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | 7,700,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Ziarco Group Limited, London [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Ziarco Group Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | London | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | 3,904 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Limited, Frimley/Camberley [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Frimley / Camberley | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | 2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Coalesce Product Development Limited, Cambridge, Cambs [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Coalesce Product Development Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Cambridge, Cambs | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | United Kingdom | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | £ | £ 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 40.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Corporation, East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Corporation | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 72,200,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Finance Corporation, East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Finance Corporation | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Capital Corporation, East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Capital Corporation | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Services, Inc., East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Services, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis US Foundation, East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis US Foundation | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Pharmaceuticals Corporation, East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Pharmaceuticals Corporation | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 650 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Advanced Accelerator Applications USA, Inc., Millburn, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Advanced Accelerator Applications USA, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Millburn, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 99.20% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Institutes for BioMedical Research, Inc., Cambridge, MA [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Institutes for BioMedical Research, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Cambridge, MA | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | CoStim Pharmaceuticals Inc., Cambridge, MA [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | CoStim Pharmaceuticals Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Cambridge, MA | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Endocyte, Inc., East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Endocyte, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Navigate BioPharma Services, Inc., Carlsbad, CA [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Navigate BioPharma Services, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Carlsbad, CA | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | AveXis, Inc., Bannockburn, IL [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Gene Therapies, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Bannockburn, IL | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Technology LLC, Inc., East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Technology LLC | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Optogenetics Research, Inc., East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Optogenetics Research, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | The Medicines Company, East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | The Medicines Company | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Sandoz Inc., Princeton, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Sandoz Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Princeton, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Amblyotech Inc., East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Amblyotech Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 50 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Oriel Therapeutics, Inc., Durham, NC [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Oriel Therapeutics, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Durham, NC | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 50,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Fougera Pharmaceuticals Inc., Melville, NY [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Fougera Pharmaceuticals Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Melville, NY | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Eon Labs, Inc., Princeton, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Eon Labs, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Princeton, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Vaccines and Diagnostics, Inc., East Hanover, NJ [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Vaccines and Diagnostics, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | East Hanover, NJ | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | USA | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | $ | $ 3 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis de Venezuela, S.A., Caracas [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis de Venezuela, S.A. | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Caracas | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Venezuela | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries [member] | Novartis Vietnam Company Limited, Ho Chi Minh City [member] | |||||||||||||||||||||||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | |||||||||||||||||||||||||||||||||||||||||||||
Name of subsidiary | Novartis Vietnam Company Limited | ||||||||||||||||||||||||||||||||||||||||||||
Principal place of business of subsidiary | Ho Chi Minh City | ||||||||||||||||||||||||||||||||||||||||||||
Country of incorporation of subsidiary | Vietnam | ||||||||||||||||||||||||||||||||||||||||||||
Share/paid-in capital | ₫ | ₫ 70 | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||||||||||||||||||||||||||||||||||||
Proportion of voting rights held in subsidiary | 100.00% |